COLORADO BIOTECH FIRM TO RELOCATE TO SF
SAN FRANCISCO - 03/08/05 - Boulder, Colorado-based Sima Therapeutics Inc. has said it plans to relocate its headquarters to San Francisco, citing attractive financial incentives and the need to be near investment bankers and qualified workers.
Sima is expected to initially move about 20 of its 77 employees to San Francisco and has said it expects to grow its Bay Area staff to about 100 people within five years.
According to press sources, the publicly-traded biotech firm will be moving its clinical, finance, business development, and legal operations as part of a multi-phase relocation to the research campus at the University of California, San Francisco (UCSF).
The university research campus operates as an enterprise zone offering multiple incentives, including city wage and sales tax exemptions.
Sima will reportedly take a two-year lease on about 5,000 square feet with an option to expand within the building at anytime in the future.
The move to the Bay Area will provide a foothold for the company, which is keeping an eye on new space being built for future expansion, press reports said.
Sima's manufacturing and research operations will remain in Boulder.
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