TEL AVIV, Israel--(BUSINESS WIRE)--Compugen Ltd. (NASDAQ:
CGEN), a leading predictive drug discovery company, today announced
the planned relocation by year-end of its Tel-Aviv headquarters, along
with its Israeli research and discovery operations, to substantially
larger facilities. The new facilities, now being prepared according to
Compugen’s specifications, will support the ongoing growth of the
Company and the further advancement of its novel immune checkpoint
programs for cancer immunotherapy. The new facilities will be located in
the Azrieli Holon Business Center about 12 miles south of Compugen’s
current location and will double the available space for the Company’s
corporate offices and labs.
This planned expansion follows last year’s relocation of the Company’s
wholly-owned US subsidiary, which is focused on the development of
antibody therapeutics against the Company’s novel drug targets, to a
larger facility in South San Francisco.
Dr. Cohen-Dayag, President and CEO of Compugen, stated, “These larger
and enhanced facilities in both Israel and the US are essential for us
as we continue to advance a number of our early-stage immuno-oncology
novel therapeutic programs, while, at the same time, continuing to
enhance and extend our unique, broadly applicable, predictive discovery
infrastructure.”
About Compugen
Compugen is a leading predictive drug discovery company focused on
monoclonal antibodies and therapeutic proteins to address important
unmet needs in the fields of oncology and immunology. The Company
utilizes a broad and continuously growing integrated infrastructure of
proprietary scientific understandings and predictive platforms,
algorithms, machine learning systems and other computational biology
capabilities for the in silico (by computer) prediction and
selection of novel drug target candidates, which are then advanced in
its Pipeline Program. The discovery and development of monoclonal
antibody therapeutic candidates against selected Compugen-discovered
novel target candidates is performed by Compugen’s wholly-owned US
subsidiary located in South San Francisco. The Company's business model
includes collaborations covering the further development and
commercialization of product candidates at various stages from its
Pipeline Program and various forms of research and discovery agreements,
in both cases providing Compugen with potential milestone payments and
royalties on product sales or other forms of revenue sharing. For
additional information, please visit Compugen's corporate website at www.cgen.com.
Forward Looking Statement
This press release contains “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements can be identified by the use of terminology
such as “will,” “may,” “expects,” “anticipates,” “believes,” and
“intends,” and describe opinions about future events and include
statements related to the relocation by year-end of Compugen’s Tel-Aviv
headquarters, along with its research and discovery operations, to
Holon, Israel. These forward-looking statements involve known and
unknown risks and uncertainties that may cause the actual results,
performance or achievements of Compugen to be materially different from
any future results, performance or achievements expressed or implied by
such forward-looking statements. Some of these and other factors are
discussed in the "Risk Factors" section of Compugen’s most recent Annual
Report on Form 20-F as filed with the Securities and Exchange Commission
as well as other documents that may be subsequently filed by Compugen
from time to time with the Securities and Exchange Commission. In
addition, any forward-looking statements represent Compugen’s views only
as of the date of this release and should not be relied upon as
representing its views as of any subsequent date. Compugen does not
assume any obligation to update any forward-looking statements unless
required by law.