MORRISVILLE — Heat Biologics Inc. is moving its principal executive offices from Durham to Morrisville.
The company signed an eight-year lease for approximately 7,500 square feet of office and lab space located at Keystone Tech 7, 627 Davis Drive in Morrisville.
Heat Biologics.
The company’s monthly rent for the new office space will start at approximately $17,000, and will increase on an annual basis up to a maximum monthly base rent of approximately $21,000. The company will be obligated to pay the landlord for other costs, taxes and operating expenses.
The lease includes an option for Heat Biologics to extend the lease for one five-year period at fair market rent.
Heat Biologics’ current lease in Durham ends on Sept. 30.
Heat Biologics is developing drugs designed to activate a patient’s immune system against cancer. It was founded in 2008 with the mission to change how cancer is treated through therapies that harness a patient’s immune system.
Heat Bio’s stock closed Monday at $1.13, down 1 cent.
This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism
