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Image courtesy of Related Beal
A Cambridge biotech firm that announced plans last month for a $40 million IPO is joining the life science cluster at Related Beal’s 451 D St. in South Boston.
Elicio Therapeutics signed an eight-year lease for 13,424 square feet in the 9-story, 477,000-square-foot building, according to a Suffolk County Registry of Deeds filing.
In February, the firm announced that it raised $73 million in series B financing from a group of international investors to advance its pipeline of immunotherapy-based cancer treatments. In July, Elicio announced plans to issue nearly 3.1 million shares of common stock in an initial public offering with shares priced between $12 and $14. The firm currently has headquarters at One Kendall Square.
The D Street property served as an induction center for military personnel assigned to the South Boston Army Base during World War II and was converted into office space in the 1980s. Related Beal acquired the South Boston property in 2018 for $276 million with plans for an offices-to-lab conversion. At the time, the building was 85-percent leased.
Related Beal announced last year that it had secured leases at 451 D St. with Inozyme Pharma, Joyn Bio, DermBiont and Sensei Biotherapeutics, following leases in 2019 by Elektrofi, Silicon Laboratories and Stevanato Group.
