09 Jul Scheer Partners Negotiates Expansion and Relocation for IBT
Gaithersburg, MD — A local biotechnology company focused on the infectious disease and biodefense markets is preparing to settle into a new headquarters in Montgomery County later this year to accommodate its future growth.
Scheer Partners, the leading provider of fully integrated commercial real estate services for the health science industry in the Washington and Baltimore metropolitan areas, announced today that it has represented Integrated BioTherapeutics (IBT) in a multi-year lease for a new corporate headquarters at the Gaithersburg Accelerator.
The new space will facilitate a needed expansion that is nearly 60 percent bigger than IBT’s existing Germantown space.
Earlier this year, Scheer Partners and the Mayor and City Council of Gaithersburg announced that they had signed a memorandum of understanding to jointly market and promote the Gaithersburg Accelerator at 21 Firstfield Road, which is receiving more than $6 million in lab-related renovations.
“Having a promising company like Integrated BioTherapeutics join Zyngenia and other biotech companies at the Accelerator is a testament to the capabilities and resources available at this premiere facility,” says Gaithersburg Mayor Sidney Katz. “We’re delighted that IBT will soon call the City of Gaithersburg its new home.”
Privately held IBT, an emerging research-based biotech company using an integrated, multi-disciplinary approach for the discovery and development of anti-infective vaccines and drugs, will occupy 10,500 square feet of laboratory and office space on the first floor of 21 Firstfield Road.
IBT’s relocation from 20358 Seneca Meadows Parkway in Germantown, where it subleases 6,600 square feet from Intrexon, is expected to take place in October, according to Rob Galioto, IBT’s director of business development.
Senior executives Matt Brady and David Kaye with Scheer Partners negotiated the new lease on behalf of IBT. At 21 Firstfield Road, IBT will join other tenants including Zyngenia in the 53,000-square-foot research building.
“We’re extremely pleased that IBT has committed to 21 Firstfield Road for its new corporate facility,” says Robert Scheer, the founder and president of Scheer Partners. “This growing company is really coming into its own. In a sign of its maturation as a business, this new headquarters will be designed and built to suit the specific requirements of IBT.”
Galioto credits Brady and Kaye with “putting really good space options in front of us. They were instrumental in getting us what we needed. We got a really good deal on the new lease.”
The new headquarters at 21 Firstfield Road is an ideal location for IBT, Galioto says, because there are numerous other companies nearby that also focus on the infectious disease market and could become potential collaboration partners.
“Montgomery County is a great place to do business, and we’re very happy to be at 21 Firstfield Road,” he says.
Founded in 2005, IBT began its operations out of the Frederick Innovative Technology Center, the first business incubator in Frederick County, before subleasing space in Germantown.
Currently, IBT has 24 employees and is looking to hire a handful of new people, including both management-level positions and technicians, Galioto says.
“We have pretty much outgrown our current space,” he says. “It will be a tremendous advantage to have a facility that is specifically built to our needs, in terms of the infrastructure.”