"AbSci, the Portland biotech startup that recently backed out of a deal to relocate to the Vancouver waterfront, has instead decided to move to a brand new building in the city’s downtown.
The company announced today it finalized a lease agreement to locate its headquarters in the new Hudson Building in downtown Vancouver. AbSci plans to begin renovations by the beginning of September and move into its state-of-the-art lab by the fourth quarter.
Absci, which is developing a revolutionary protein production technology, has experienced rapid growth over the past five years. It recently snagged $5.1 million in Series A funding.
The company is currently located at the OTRADI Bioscience Incubator in Portland's South Waterfront neighborhood and has 14 full-time employees. AbSci anticipates adding 20 to 30 new jobs in the next five years.
“We’ve been committed to finding a long-term home in Vancouver but needed a space that could accommodate our unique requirements and continued growth for at least the next five years,” said Sean McClain, founder and CEO of AbSci, in an annoucement. “The Hudson Building’s modern layout allowed us to design an efficient and collaborative facility that will support the company’s growth for the foreseeable future.”
AbSci was awarded $200,000 from Washington Gov. Jay Inslee’s Strategic Reserve Fund for its build out..."