Mount Tam Biotechnologies has officially bid farewell to its former Novato headquarters and is now operating out of New England.
The biotechnology startup, a spinoff of The Buck Institute for Age Research in Novato, inked a deal though the end of November to operate out of Burlington, Vermont, according to its annual report, filed with the U.S. Securities and Exchange Commission on April 11.
In October 2018, ARJ Consulting LLC purchased Mount Tam for $410,000 in a deal that saw the company transfer certain assets, including its Buck Institute license agreement.
Richard Marshak, Mount Tam’s CEO since 2016, has been based in Vermont since the end of 2017, according to CFO James Stapleton.
“We have no operations at all in California,” Stapleton said, noting the company has no plans to return.
In September 2015, Mount Tam used a reverse merger to become publicly traded. In that process, a company that wants to become publicly traded typically buys a defunct publicly traded “shell” company and changes its name to that of the acquiring company, the Business Journal reported in mid-2016, when Mount Tam was still renting lab space at The Buck.
Mount Tam is not the first North Bay publicly traded technology company to leave the region.
Solar microinverter maker Enphase moved its headquarters in April 2018 from Petaluma to Fremont, where it inked a 5-year lease, according to its annual regulatory filing. Telecommunications company Calix Inc. moved its global headquarters from Petaluma to San Jose, though maintains an office in Petaluma; and Raptor Pharmaceuticals left Novato in 2017 following its $800 million merger with Horizon Pharma, according to the Business Journal’s previous reporting.