The visionary company, located in the world-renowned Park since 2008, will begin occupying a new 15,954 sq ft two-storey building, known as Unit 183, in June. Multidisciplinary property consultants Bidwells refurbished the office building before agreeing a ten-year lease with the Cambridge-based company.
The move almost doubles the size of Owlstone Medical’s footprint at the Park which is made up of a mix of office and laboratory space to accommodate its 130 employees. The new building is located close to its existing 10,037 sq ft and 8,295 sq ft buildings.
Bidwells acted as sole agents on the deal.
Bridget Partridge, Surveyor, Business Space Agency, Bidwells, said: "This deal signifies not only Owlstone Medical’s continued success and ambition but also the company’s satisfaction with its Cambridge Science Park location. It’s a further vote of confidence in the Cambridge Science Park and its ongoing investment programme of significant enhancements to the Park’s public realm, landscaping and access.
Owlstone Medical’s innovative Breath Biopsy platform has the potential to revolutionise early detection and precision medicine, with applications in cancer and a wide range of other conditions. The technology enables disease to be detected earlier when treatments are more effective.
The firm announced recently (March 28) it has raised £11m to drive the global commercialisation of its platform, enabling the company to bring its lung cancer test to market, extend its early detection pipeline with ongoing trials across multiple cancers, and further grow its existing precision medicine services to the pharmaceutical industry.
Billy Boyle, co-founder and CEO at Owlstone Medical, said:
Owlstone Medical has ambitious growth and expansion plans and by adding the new building to our existing premises on the Science Park, we can accommodate the team as it grows. It also allows for increased capacity in our state-of-the-art laboratories to handle more Breath Biopsy service projects as well as support our ongoing clinical trials.
Bidwells’ Building Consultancy team designed, specified and administered a CAT A refurbishment of the Unit on behalf of the Landlord, including the installation of new suspended ceilings, featuring LED lighting; installation of raised access floors throughout; upgrading the Mechanical and Electrical Installations and the provision of welfare facilities. The accommodation includes cycle storage, dedicated car parking and landscaped gardens.
Blackwell Consulting represented Owlstone Medical in the deal.