Sana Biotechnology, which raised a whopping $588 million in its initial public offering last year, has inked a deal for new manufacturing space.
The preclinical-stage biotech is ditching plans to run its manufacturing operations in Fremont, California, and instead plans new manufacturing digs in Bothell, Washington. The company expects the move to save it about $100 million in expenses over three years.
The company had been in the design stages of the Fremont site and will “leverage the design principles from the Fremont facility” in its Bothell plans, a spokesperson said.
