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Personalis Announces Corporate Headquarters Expansion to Accelerate Growth in Laboratory Operations and Research & Development
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Rhea-AI Summary
Personalis, Inc. (NASDAQ: PSNL) announced its relocation of corporate headquarters and Clinical Laboratory from Menlo Park to a new 100,000 sq. ft. facility in Fremont, aimed at supporting growth and expanding laboratory operations. The 13-year lease on the new facility, nearly doubling their existing space, reflects the company's ambition to enhance its presence in the cancer diagnostics market. CEO John West emphasized the intention to recruit top talent to meet business goals and strengthen R&D efforts. The move is expected to occur within the next 12 months.
Positive
New facility lease for 100,000 sq. ft. supports future growth.
Relocation expected to enhance laboratory capacity and R&D activities.
CEO highlights continued recruitment of top talent to meet business goals.
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MENLO PARK, Calif.--(BUSINESS WIRE)--
Personalis, Inc. (Nasdaq: PSNL), a leader in advanced genomics for cancer, today announced that the company will relocate both its corporate headquarters and the Personalis Clinical Laboratory from Menlo Park to 6600 Dumbarton Circle in Fremont. The new facility will support the Company's future growth plans and provide greater capacity for laboratory operations and research & development activities. The relocation of the Company’s corporate headquarters to this new facility is expected to occur within the next 12 months.
“Our new headquarters is expected to enable Personalis to continue our growth as we look to further expand our product offerings and strengthen our position in the cancer diagnostics market,” said John West, Chief Executive Officer. “As we’ve experienced so far, the San Francisco Bay Area has a deep pool of talent and we plan to continue to recruit top scientific, clinical and commercial professionals with the skill sets necessary to achieve our business goals and support our many initiatives.”
Personalis has signed a 13-year lease for the 100,000 square foot facility which is approximately double the amount of space of its current Menlo Park location. The new facility is intended to allow for expansion of the Company’s CLIA-certified and CAP-accredited laboratory for clinical testing to support biopharma customers and clinical diagnostic testing. In addition, the new space is intended to support the expansion of R&D efforts to bring leading edge products and services to the marketplace.
About Personalis, Inc.
Personalis, Inc. is a leader in advanced cancer genomics for enabling the next generation of precision cancer therapies and diagnostics. The Personalis NeXT Platform™ is designed to adapt to the complex and evolving understanding of cancer, providing its biopharmaceutical customers and clinicians with information on all of the approximately 20,000 human genes, together with the immune system, from a single tissue sample. In population sequencing, Personalis operates one of the largest sequencing laboratories globally and is currently the sole sequencing provider to the VA MVP. To enable cancer and population sequencing, the PersonalisClinical Laboratory is built with a focus on clinical accuracy, quality, big data, scale, and efficiency. The laboratory is GxP aligned as well as CLIA’88-certified and CAP-accredited. For more information, please visit www.personalis.com and follow Personalis on Twitter (@PersonalisInc).
Forward-Looking Statements
All statements in this press release that are not historical are “forward-looking statements” within the meaning of U.S. securities laws, including statements relating to the expected benefits or timing of relocating the Company’s corporate headquarters and the Personalis Clinical Laboratory, attributes or advantages of the Personalis NeXT Platform, Personalis’ business opportunities, leadership, plans, products, services, clinical testing, vision, growth, or expansion, or other future events. Such forward-looking statements involve risks and uncertainties, including those related to the COVID-19 pandemic, that could cause actual results to differ materially from any anticipated results or expectations expressed or implied by such statements. Factors that could materially affect actual results can be found in Personalis’ filings with the U.S. Securities and Exchange Commission, including Personalis’ most recent reports on Forms 8-K, 10-K and 10-Q, and include those listed under the caption “Risk Factors.” Personalis disclaims any obligation to update such forward-looking statements.
