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Global Biotech Firm Pulls the Plug on Bay Area Space Amid Industry Slowdown

InterVenn Biosciences Cancels Deal for South San Francisco Office a Year After Signing Lease
InterVenn Biosciences had preleased all 142,500 square feet at the research and development project at 499 Forbes Blvd. in South San Francisco, California. (CoStar)
InterVenn Biosciences had preleased all 142,500 square feet at the research and development project at 499 Forbes Blvd. in South San Francisco, California. (CoStar)
CoStar News
June 22, 2023 | 7:11 P.M.

A fast-growing San Francisco Bay Area biotech firm has slammed the brakes on its real estate expansion plan, canceling a 10-year lease agreement it signed only a year ago as it joins other life science companies in their efforts to conserve costs.

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