East Coast startup Agenus buys 120 acres in Solano County biomed cluster
Contributing to Vacaville’s ever-growing biomanufacturing hub, Agenus Inc. has purchased 120 acres nestled between interstates 80 and 505 from housing developer A.G. Spanos, the Lexington, Massachusetts-based company announced on July 9.
The acquisition, valued at $18 million, is intended to assist the biomed company in continuing to research and develop oncology-related therapies. Agenus (Nasdaq: AGEN) reported $88 million in revenue for 2020.
“We are excited to expand our manufacturing and process research capabilities in Vacaville as we contemplate the commercialization of our exciting pipeline of high-tech cancer treatments,” Agenus CEO Garo Armen said in a statement.
Vacaville’s vast economic interests were pleased with the deal.
“I do believe this is a new chapter for the city of Vacaville,” said Russ Moroz, a Marcus & Millichap commercial real estate broker who represented the seller with Vince Schwab working on the deal. “Vacaville’s availability of affordable housing in comparison to other markets makes (the purchase) logical.”
The Solano County property is situated off Vaca Valley Parkway next to Genentech in what has become a blossoming area, according to representatives of the California Biomanufacturing Center, which is a nonprofit organization established to promote industries like pharmaceutical production.
“Vacaville is producing this type of workforce,” center CEO and founder Matt Gardner said of the business specialty. “Basically, we’re attracting people from all over the world.”
Gardner predicted the region could attract people to fill at least 10,000 biotech jobs in the next few decades.
Adding to the area’s bio focus, Solano Community College offers a biomanufacturing development bachelor’s degree, along with nearby UC Davis’ expertise in life sciences.
“We decided to go with Vacaville because of its close proximity to talent,” Agenus spokeswoman Kimberly Ha said.
City leaders say the designated biomed triangle located 50 miles northeast of San Francisco presents a fertile ground for biomanufacturing, with Genentech, Polaris Pharmaceuticals, Johnson & Johnson, RxD Nova and Novici Biotech paving the way.
For 23 years, Vacaville has been home to Genentech Vacaville Technical Operations — one of the largest biologics manufacturing facilities in the world.
“We have worked closely with the city since its opening and deeply appreciate their partnership,” Genentech spokeswoman Amanda Fallon said. “They understand and are responsive to the unique needs of our business, and we welcome their efforts to cultivate a life sciences hub that drives a robust local economy and deliver life- changing medical advances to people throughout the world.”
Vacaville Director of Economic Development Don Burrus noted Agenus makes for a suitable fit to the area that’s part of the big picture expected for the American post-pandemic workforce along the I-80 corridor northeast of the crowded San Francisco Bay Area. The city’s housing market is valued at less than half of Berkeley’s.
“Since last November, (Agenus has) told us they want to be a part of the fabric of the community,” Burrus said.
With that, the city plans to discuss ideas for helping Agenus build out the industrial park into a complete complex with more amenities than just office space.
“Traditional office parks have almost died. No longer are they these stodgy, buttoned-up facilities. The concept of developing parks where workers can live, work and play has been something cities have been working toward for the last 15 years,” Burrus said.
The pandemic has accelerated this trend as workers decline to go into a stuffy office where no services are available when they take a break outside their cubicles, Burrus contends.
Susan Wood covers law, cannabis, production, biotech, agriculture, energy and transportation as well as banking and finance. For 25 years, Susan has worked for a variety of publications including the North County Times in San Diego County, Tahoe Daily Tribune and Lake Tahoe News. She graduated from Fullerton College. Reach her at 530-545-8662 or susan.wood@busjrnl.com.
