Norway-based Cryogenetics has leased 5,400 s/f of industrial flex space at Cummings Properties' 14 Gill St. to house its U.S. division. In late summer, the biotech firm expects to open a cryopreservation laboratory that will be the only one of its kind in the country.
Derek Cook, leasing director at Cummings Properties, said, "A pioneer in its field, Cryogenetics will be an excellent addition to our thriving biotech cluster at Gill St."
Cryogenetics' neighbors will include Courtagen Life Sciences, EMD Millipore, and PathoGenetix, among other notable biotech firms.
Debra Stevens, a partner and principal of The Stevens Group, represented Cryogenetics in the transaction.
Cryogenetics preserves zebrafish sperm, known as milt, for use in scientific research, storing it in specialized tanks at temperatures of about -250 degrees fahrenheit. Jorn Ulheim, managing director, likens the 10-year-old company to a fertility clinic that banks sperm for possible future use. Instead of hopeful parents, however, Cryogenetics' clients are biomedical researchers.
The privately held firm was drawn to the Boston area by the relatively large concentration of zebrafish-based research taking place at local universities and hospitals.
The R&D area within Cryogenetics' new facility will be used to conduct research to adapt the firm's technologies for other fish species, allowing it to serve additional industries, such as commercial fishing and wildlife conservation.
According to Ulheim, affordable rates as well as easy accessibility to major highways and Logan Airport, made Woburn an attractive location. He also cited the numerous nearby business amenities as a draw.
Ulheim said, "It's the perfect distance from the city. And support-wise, everything we need - such as banks and hotels - is right here, which is a benefit for us."