By Nathan Rubbelke, St. Louis Business Jouranl | December 15, 2021
San Francisco-based immunology company Vir Biotechnology Inc. is expanding its footprint in St. Louis, with plans to open an office within the Cortex innovation district.
The publicly traded biotechnology firm (NASDAQ: VIR) will open a new office and innovation lab at the @4240 building, located at 4240 Duncan Ave. The office space, previously occupied by Washington University, will be renovated before Vir occupies it, a press release said.
Founded in 2016, Vir is advancing a portfolio of drug candidates for several infectious diseases, including Covid-19, hepatitis B, influenza A and HIV. The company last month said it inked $1 billion in contracts with the U.S. government for doses of a Covid-19 monoclonal antibody treatment it has developed in partnership with GlaxoSmithKline plc.
Lisa Purcell, Vir’s vice president of microbiology and virology and St. Louis site lead, said the company’s decision to base its local operations at Cortex places it among collaborators that could help advance its product portfolio.
“Our close proximity to distinguished academic and scientific institutions, as well as leading medical centers, will be an important addition to our ongoing efforts to prevent and treat the world’s most serious infectious diseases,” Purcell said.
Vir declined to share additional details about its new Cortex office, including its size, the company’s anticipated move-in date and the number of employees who will be based there.
“Cortex is thrilled to welcome Vir Biotechnology to the district,” said Sam Fiorello, president and CEO of Cortex. “Vir’s touchpoints in St. Louis, including with institutions Washington University and Saint Louis University, and Vir’s interest in attracting and developing a diverse workforce mesh perfectly with Cortex’s strategic direction.”
The San Francisco firm's chief scientific officer is Herbert “Skip” Virgin, who previously led Washington University’s department of pathology and immunology. Vir is currently staging its local operation at SLU’s campus ahead of its move to nearby Cortex.
In November, Vir reported its most recent financial results, saying it had $103.6 million in revenue for the quarter ended Sept 30. The company’s revenue was up from $1.9 million in the year-ago period. The company had 327 full-time employees as of Dec. 31, 2020, according to regulatory filings.
Several local economic development groups said they were involved in securing Vir’s St. Louis expansion, including Greater St. Louis, Inc., Missouri Partnership, Missouri Department of Economic Development, St. Louis Economic Development Partnership and St. Louis Development Corporation.
“Biotech was identified in the STL 2030 Jobs Plan as one of five strong clusters with the potential to drive future growth in the St. Louis region’s economy, and anchor institutions like Cortex, the Danforth Center, and 39 North have established St. Louis as a global destination for the sector,” said Jason Hall, CEO of Greater St. Louis Inc. “Vir’s arrival further highlights our strength in biotech, and we welcome them to St. Louis.”
Vir is the second publicly traded company this week to announce it has established a new office at Cortex. GDIT, a government technology integrator that is part of global aerospace and defense contractor General Dynamics Corp. (NYSE: GD), on Monday held a ribbon cutting for its new office within the innovation district.
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