Dendreon Scopes Out Downtown Seattle Headquarters

Xconomy Seattle — 

Dendreon could soon be headed from Belltown to downtown.

The Seattle-based biotech company (NASDAQ: DNDN), currently based in an aging lab building at 3005 First Avenue near Denny Way, appears to on its way into the 42-story Russell Investments Center, according to a Seattle Times story by commercial real estate reporter Eric Pryne. An architecture firm filed plans with the city to modify floors 36 through 38 for Dendreon. The Times also quoted unnamed sources saying the company might take as many as eight floors.

Dendreon spokeswoman Tricia Larson told the newspaper it is “exploring all options, and this is one.” No final decision has been made, she said.

The company has been growing like gangbusters since April 2009, when it showed in a pivotal clinical trial of 512 men with prostate cancer that its novel immune-booster was able to prolong lives with minimal side effects. The drug won FDA approval last April. Over the last month, Dendreon has raised an additional $600 million to maximize the sales potential of this product, sipuleucel-T (Provenge), around the world. The company has been hiring hundreds of employees with new capabilities in areas like marketing and manufacturing—not just here in Seattle, but also at other sites in New Jersey, Georgia, and southern California.

The Russell Center, formerly known as the WaMu Center, isn’t set up to accommodate labs, so those will have to go somewhere else, the Times said.

Back in early May, Dendreon said it had signed a letter of intent to expand into a new lab and office building along Elliott Bay developed by Martin Selig, but the lease still hasn’t been signed, the Times said. Selig declined to comment to the newspaper.

If Dendreon moves into the Russell Investments Center, I’ll be sure to try (on a clear day, anyway) to whip out the camera for a new photo of CEO Mitch Gold with the Olympic mountains in the background. You can already see them from his current office perch, but, no doubt, this new place offers a whole new view, higher up in the world.

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5 responses to “Dendreon Scopes Out Downtown Seattle Headquarters”

  1. Mitch Gold says:

    How about writing an article on this:

    Dendreon Announces Presentation of PROVENGE Data at the 2011 Genitourinary Cancers Symposium Annual Meeting

    SEATTLE, Feb. 17, 2011 /PRNewswire/ — Dendreon Corporation (Nasdaq:DNDN – News) today announced the following data presentations taking place at the 2011 Genitourinary Cancers Symposium annual meeting in Orlando, Florida.

    * “Subsequent Treatment with APC8015F May Have Prolonged Survival of the Control Arm in Phase 3 Sipuleucel-T Studies,” abstract #139. Reception and General Poster Session B: Prostate Cancer (A33) from 4:50 to 6:20 p.m. ET on Thursday, February 17, 2011.
    * “Characterization of Antigen-Specific T cell Activation and Cytokine Expression Induced by Sipuleucel-T,” abstract #155. Reception and General Poster Session B: Prostate Cancer (A49) from 4:50 to 6:20 p.m. ET on Thursday, February 17, 2011.

    Abstract #139: Subsequent Treatment with APC8015F May Have Prolonged Survival of the Control Arm in Phase 3 Sipuleucel-T Studies

    This exploratory analysis evaluated the survival of patients who were randomized to the control arm in the three metastatic castrate resistant prostate cancer PROVENGE® (sipuleucel-T) Phase 3 clinical trials (D9901, D9902A, D9902B). Control used in the trial was non-activated autologous peripheral blood mononuclear cells. Patients in these trials who were randomized to receive control had the opportunity to participate in an open label Phase 2 protocol that allowed them to receive APC8015F, an investigational autologous cellular immunotherapy made from cryopreserved cells at the time of control generation.

    Results from the exploratory analysis show patients treated with APC8015F (n=155) after their disease progressed had improved survival relative to the patients not treated in the control arm (n=61). Following disease progression, the median survival of patients treated with APC8015F was 20.0 months compared to 9.8 months for control patients who did not receive APC8015F (HR=0.52 [95% CI: 0.37, 0.73]; P=0.0001). While baseline prognostic factors tended to be more favorable in patients who received APC8015F, treatment with APC8015F remained associated with improved survival after adjusting for these factors (HR=0.55 [95% CI: 0.39, 0.78]; P<0.001). The safety profile of APC8015F was consistent with that observed in the PROVENGE Phase 3 clinical trials.

    Abstract #155: Characterization of Antigen-Specific T cell Activation and Cytokine Expression Induced by Sipuleucel-T

    In PROVENGE (sipuleucel-T) Phase 2 and 3 clinical trials, patients underwent leukaphereses to collect peripheral blood mononuclear cells (PBMCs). For the patients randomized to receive sipuleucel-T, the patient's PBMCs were cultured with PA2024, a recombinant fusion protein consisting of prostatic acid phosphatase (PAP) and granulocyte-macrophage colony-stimulating factor (GM-CSF), to generate the treatment (sipuleucel-T), which is then infused into the patient.

    This presentation examined the role of GM-CSF in T cell activation and cytokine production in patients in the sipuleucel-T Phase 2 and 3 clinical trials (P07-2 ProACT and D9902B IMPACT). For this analysis, a portion of PBMCs from each leukapheresis were cultured with GM-CSF and compared to sipuleucel-T (PBMCs cultured with PA2024) to evaluate T cell activation, cytokine production, and upregulation of the costimulatory molecules, CD54 and CD86.

    The study showed a statistically significant increase in the production of a number of cytokines, including IL-2 (P<0.0001) and IFNγ (P=0.0019), from cells cultured with PA2024 compared to those cultured with GM-CSF. Furthermore, CD54 upregulation was enhanced at week 2 in response to PA2024 but not GM-CSF. The increased T cell activation and enhanced cytokine expression which occurred after the first infusion of sipuleucel-T also appeared to be PA2024-specific. These data are consistent with sipuleucel-T generating in vivo priming of a T cell mediated immune response, and with these effects being independent of GM-CSF.

  2. To the commenter above—while I know the real Mitch Gold reads this site, I’m quite certain he employs public relations people to urge journalists like me to write stories about his company and product. There is potentially a story here about exactly how long the survival benefit is for patients on Provenge, and I’ll consider it among other things I have to do. But I would prefer people use their real names to make real points here in the comment space. Hiding behind anonymity, or posing as someone who you aren’t, doesn’t help matters.

  3. Forgot to mention this. The Puget Sound Business Journal had the Dendreon real estate story late yesterday as well, which mentions the possibility that Dendreon could take some lab space formerly occupied by ZymoGenetics.

  4. John says:

    Hi Luke,
    Great article!

    Can’t give enough kudos to Dr. Gold and the board for moving Provenge from an R&D story to a successful commercialization story and extending more dying pc patients lives!

    The Q4-2010 earnings cc scheduled for March 1st is very late by normal standards. DNDN typically has their quarterly call during the 1st week of the 2nd month after a quarter closes. This call is during the 1st week of the 3rd month.(?) Dr. Gold has already disclosed how they did during Q4/2010 ($25M) so I’m excited and hope he has other great news to share (ie: submitted sBLA for CA & GA or that the NJ facility has been FDA approved). I think the sBLA for NJ was submitted on Nov 14th, so the 4 month FDA review deadline would fall sometime in early March.

    I also hope Dr. Gold schedules the annual shareholder meeting AFTER the CMS issue is completely resolved (June 30th) and all 3 facilities are FDA approved. If the sBLA for CA & GA were submitted on Feb 28th, that would put the 4 month FDA review deadline at June, 28th.
    So, I guess I’m hoping we go to an annual shareholder meeting held sometime in early July w/ no overhang and one big celebration during the meeting.

    I hope he releases the shareholder meeting date soon so I can put it on my calendar. This summer is going to be full/fun ;o)

    Keep up the gr8 work and thankyou,