A San Francisco-based immunology company that wants to help eradicate infectious disease globally has expanded its footprint in St. Louis, opening a new $41 million office within the Cortex innovation district.
Vir Biotechnology Inc. (NASDAQ: VIR) has started operating out of its new 59,000-square-foot office and research lab located at 4240 Duncan Ave. The company on Wednesday held a ribbon-cutting for its new office, providing a peek into the space.
Founded in 2016, Vir is advancing a portfolio of drug candidates and therapeutics for several infectious diseases, including Covid-19, hepatitis, influenza and HIV. In 2021, it inked contacts 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 senior vice president of microbiology and virology and St. Louis site head, said the company’s new local office will focus on research and development, supporting pre-clinical testing to advance and commercialize its drug pipeline. Purcell said St. Louis' new office gives it proximity to research institutions and collaborators like Saint Louis University and Washington University and places it within a “thriving bioscience community.”
“We’re really excited to be part of that,” she said.
Vir announced its St. Louis expansion plans in December 2021, taking office space previously used by Washington University. It currently has about 30 employees in St. Louis. During the $41 million renovation of its St. Louis space, Vir staged its local operations at SLU. In addition to St. Louis, Vir has offices in San Francisco, Portland and Bellinzona, Switzerland.
Vir Biotechnology's new Cortex office
Scroll through the gallery above to take a look inside Vir's new office in the Cortex innovation district.
Vir tapped HOK as architect for its new St. Louis office, with Tarlton Corp. acting as general contractor.
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. As part of its expansion, Vir is eligible to receive state incentives though Missouri Works Program, which helps businesses access capital through withholdings or tax credits. The state didn't immediately answer questions about the size of incentives available to Vir.
In August, Vir reported a net loss of $76.5 million in the quarter ended June 30. The company says it currently has a balance sheet of more than $2.6 billion that will fund the company for up to five years. During that period, the company said it expects to advance clinical trials for treatments for Covid-19, hepatitis B, hepatitis D and influenza A.
