AbbVie hatches plans for a major new R&D hub close to its partners in Bay Area's buzzy Oyster Point
AbbVie has signed on to be the first tenant of a massive new research center in Oyster Point, joining a flock of biopharma peers that’s set up shop in the increasingly popular South San Francisco neighborhood.
The North Chicago, IL-based drugmaker — whose Stemcentryx subsidiary has an operation in the area — is leasing almost 480,000 square feet in the Gateway of Pacific, a 1.4 million square foot campus under construction by BioMed Realty. Inking a deal for 10 years, AbbVie will occupy a 12-story tower in a space that could eventually hold 1,500 workers, the San Francisco Business Times reported.
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