Vacaville’s efforts to enhance the city’s biomanufacturing offerings took another huge step forward this week with the announcement that Agenus, a publicly traded biotechnology company based out of Massachusetts, had purchased 120 acres along the corner of Interstates 80 and 505 to open a manufacturing center there.
The move comes nine months after the city entered into an agreement with Solano Community College to increase its biomanufacturing cluster near the school’s Vacaville campus, which is already in close proximity to Genentech, one of the largest biomanufacturing companies in the world.
The site was sold by Stockton-based development company A.G. Spanos and brokered by Marcus & Millichap, a real estate company headquartered in Calabasas with an office in Roseville that helped with the sale.
Russ Moroz, first vice president of investments for Marcus & Millichap, said he was grateful to be part of the sale.
“It’s pretty incredible,” he said. “I really do believe this will be a defining chapter in the city of Vacaville’s history or one of those types of events that really defines the city’s future with respect to its long-term desire to become a biotech hub.”
Agenus was founded in Lexington, Massachusetts in 1994 and went public on the NASDAQ exchange in 2000. The company specializes in research and manufacturing for immuno-oncology, a study aimed at fighting cancer.
One of Agenus’ features is a “pipeline” that has pharmaceuticals at differing stages of approval, from fully-owned programs to partner programs to option programs. In May, Agenus entered into a deal with fellow publicly traded pharmaceutical company Bristol-Myers Squibb that amounted to up to $1.36 billion and granted Bristol-Myers Squibb an exclusive license to its antibody program, AGEN1777.
“Agenus is the type of advanced therapies manufacturer we envisioned locating facilities in Vacaville when we recognized the strengths we have as a center for biomanufacturing and decided to make a concerted effort to expand the number of biotech companies already here producing high-value products,” Mayor Ron Rowlett said in a statement. “We will work with Agenus through our Biotechnology Fast Track permitting program for biomanufacturers to make the process for getting them up and running as fast and frictionless as possible.”
Moroz said the property was marketed to various investors and developers last year, and Marcus & Millichap representatives also met with city officials to see what they would like to see on the site. He said there was some interest from smaller biotech companies, but most of them wanted to be near an existing large campus, like that of Agenus’.
“Everybody was waiting in the wings for a company like Agenus to come through,” he said.
Moroz said the company expressed interest late last year, after looking at other potential sites in Solano County and elsewhere. Agenus currently has a manufacturing center in Berkeley, which is currently on sale for $26 million.
“They were really looking and exploring some options, but they really couldn’t come to an agreement on any particular site that made a lot of sense,” he said.
Agenus settled on Vacaville and inked a deal earlier in the year. Moroz said biotech companies tend to station themselves in well-established biotech cities like Boston or South San Francisco.
“To see them expand beyond that into a city like Vacaville is frankly pretty incredible because I know there will be other biotech companies that will be following them,” he said. “Frankly, I can’t wait to see what happens on the site.”
Don Burrus, Vacaville’s director of economic development services, said the city’s leadership “couldn’t be more excited” about Agenus moving in.
“This is a great opportunity for the city,” he said. “It allows us to continue to grow our biotechnology/biomanufacturing cluster. Many people outside of Solano County are not aware that Vacaville has been in biomanufacturing for many decades now, with over six biotechnology companies currently in the city. We’re happy to bring Agenus on board to create more high-value jobs for our residents and for residents throughout Solano County.”
Moreover, Burrus said that Agenus selecting Vacaville “validates the work that we’ve been doing with our initiative and lets us know that we actually do have a proposition for those biomanufacturers.” In fact, he said the city is currently in talks with at least three other biomanufacturing companies currently.
City Councilman Michael Silva, also a biotechnology professor at SCC’s Vacaville campus, said Agenus’ acquisition showed promise not only for the city but also the biotechnology field.
“A lot of us have experienced different ailments in our own lifetime and definitely with our families,” he said. “This field is lifechanging in many ways. Not only does it provide some type of opportunity to create new treatments, they also provide new jobs, and it’s really exciting to see that these opportunities will be coming here literally in our own backyard.”
Silva said the cost of land in the greater Bay Area is expensive and has often prohibited biotech companies from expanding.
“Coming a little more further inland to Vacaville, which is still part of the Bay Area, allows them to access land that’s cheaper and gives them a qualified workforce,” he said. “For Agenus to come through and purchase that land on a newly rezoned biotech land, it just shows that there’s a commitment out there to invest in people and invest in better treatment options.”
Garo Armen, Ph.D., the CEO of Agenus, said in a statement Vacaville’s close proximity to talent at the University of California, Berkeley and University of California, Davis — as well as the city’s overall quality of life — were major factors in the company’s decision to open a facility in town.
“We are excited to expand our manufacturing and process research capabilities in Vacaville as we contemplate the commercialization of our exciting pipeline of high-tech cancer treatments,” he said. “The City of Vacaville is a true partner with their commitment.”
Agenus will be located next to Kaiser Permanente and also Genentech. The timeline for construction, as well as the number of employees, have not yet been determined, Burrus said.
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