DermTech, Inc. (NASDAQ: DMTK) (“DermTech” or the “Company”), a leader in precision dermatology enabled by a non-invasive skin genomics platform, announced expansion plans to support the Company’s continued growth in San Diego, with the lease of a building owned by Kilroy Realty. The 95,997 square-foot building will become DermTech’s new corporate headquarters and the site of its laboratory (the “DermTech Gene Lab”) where DermTech will among other things, process its DermTech Melanoma Test to aid in the early detection of melanoma.
The property at 12340 El Camino Real, will undergo a significant transformation that will include conversion of approximately 30,000 square feet of office space to life science laboratory space, and will become available to the Company in four phases. The first portion of the new building is slated to open in the next couple of months and will include office space for the DermTech team. The next portion of the building is slated to open throughout 2022 and will offer a brand-new, state-of-the-art space for the DermTech Gene Lab, further expanding the Company’s laboratory capacity to support expected growth in commercial diagnostic test volume. This phase will also include separate dedicated laboratory space to enhance the Company’s research and development capabilities, as well as additional office space to support expected growth in commercial and administrative teams. The lease has a term of 126 months, with two options to extend the lease term for 5 additional years each. DermTech leased the new building from Los Angeles-based developer Kilroy Realty, who is working to help further the growing regional demand for space among biotech companies.
“DermTech continues to make significant investments in people and infrastructure to allow us to capture the market opportunity before us,” said John Dobak, M.D., CEO of DermTech. “We are incredibly fortunate to remain headquartered in San Diego, a thriving hub for healthcare and biotechnology innovation, and excited to make the move to the Del Mar Heights neighborhood.”
“We’re thrilled to welcome DermTech to Kilroy’s Del Mar Corporate Centre II (DMCC II); the move certainly shows the rising demand and strength in the Del Mar Heights neighborhood for San Diego’s biotech and life science industries,” said Nelson Ackerly, Kilroy’s Senior Vice President, San Diego. “This transaction is also representative of how Kilroy is successfully converting property, in this case a traditional law firm building, into its highest and best use in today’s market. We’re looking forward to working with DermTech and ushering in additional opportunities for life science and biotech tenants within the region.”
For more such updates and perspectives around Digital Innovation, IoT, Data Infrastructure, AI & Cybsercurity, go to AI-Techpark.com.
