BOTHELL – A company studying the potential use of stem cells to treat heart problems and other diseases is moving its headquarters and research facilities to the Canyon Park business campus.
CellCyte Genetics Corp. is at least the third biotechnology firm to move into Bothell in the past few months. In this case, the move is from Kirkland.
The company, founded in 2003, has leased 25,000 square feet in Canyon Park, including 12,000 square feet for a lab and manufacturing space. The space should be ready by September.
“This new facility in Bothell will allow our research teams to complete preclinical investigations on our lead indication … as well as move immediately into new research related to new products and patents from our pipeline,” Gary Reys, CellCyte’s president and chairman, said in a written announcement.
CellCyte’s lead product is CCG-TH30, an experimental compound that can deliver and retain stem cells in the heart. The company also is looking at using stem-cell treatments for other conditions, though it is not working with embryonic stem cells, which are much more controversial.
Earlier this year, CellCyte merged with Shepard Inc., a small Canadian mining company, in a deal that made CellCyte a public company with new access to capital. As the acquisition closed, the new company raised nearly $6 million through a private placement of stock shares.
CellCyte’s shares, traded on the Over the Counter Bulletin Board under the symbol CCYG, closed Thursday at $6.18. Reys said the company hopes to begin trading on the Nasdaq market within a year. The company’s stock also is traded on the exchange in Frankfurt, Germany.
CellCyte’s not the only newcomer among the biotech firms in Bothell.
Acucela Inc., which is focused on developing treatments for a variety of blinding eye diseases, moved recently from Seattle to Canyon Park. BioLife Solutions Inc., a developer and manufacturer of liquid preservation solutions for cells, tissues and organs, recently moved its offices from Owego, N.Y., to the North Creek area.
Reporter Eric Fetters: 425-339-3453 or fetters@heraldnet.com.
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