A biotech company that just raised $22.6 million in financing has signed a seven-year lease for 16,000 square feet of office and lab space at Bulfinch’s 117 Kendrick property in Needham.

Cancer researcher Candel Therapeutics is the second life science tenant in the 213,000-square-foot buiding which was recently renovated to update common areas, building systems and outdoor spaces. Verastem Inc. renewed and expanded its space in 2018.

Candel Therapeutics raised nearly $29 million in series B funding led by PBM Capital Group in January, and announced this week $22.6 million in series C preferred stock financing led by Northpond Ventures.

Boston-based Bulfinch acquired 117 Kendrick in 2014 and hired Stantec to design a series of upgrades including outdoor courtyards with multi-tiered seating and modernized lobbies.

Additional tenants include Warner Brothers, Marcum LLP, Enservio and BBK Worldwide. The property has 28,000 square feet available for lease.

Bulfinch Director of Leasing Mike Wilcox represented ownership in the lease negotiation. Colliers International’s Evan Gallagher and John Carroll III represented Candel.