ST. LOUIS — A biotechnology company, flush with new funding, is expanding its office and laboratory space at the Cortex innovation district.
St. Louis-based Wugen Inc., which develops off-the-shelf cell therapies for cancer, will occupy the entire first floor of 4260 Forest Park Avenue. Wugen is taking over some of the space Block Inc., formerly known as Square, left when the financial services firm moved from Cortex to the former Post-Dispatch building in downtown St. Louis.
Wugen is currently based at BioGenerator Labs, which offers lab space to growing companies, inside the BioSTL Building at 4340 Duncan Avenue, also in the Cortex district.
The expansion will allow the company to double its workforce to 100 employees, according to a new release.
“We are proud to be part of St. Louis’ vibrant biotech community and are pleased to continue to grow locally,†Dan Kemp, Wugen’s CEO and president, said in a statement.
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The company’s expansion comes as Cortex released a new five-year plan that aims, in part, to grow new jobs.
Wugen’s move follows the $172 million in Series B financing Wugen raised from United Kingdom-based investment firm Abingworth, Hong Kong-based Tybourne Capital Management and other investors. Wugen said the Series B raise was oversubscribed, meaning the company raised more money than it expected.
Wugen was founded in 2018.
Cortex officials say they have a new five-year strategic plan that will provide a roadmap to recruit more companies and build a pipeline of diverse talent. Â
