CAMBRIDGE, Mass.--(BUSINESS WIRE)--
AVEO Oncology (AVEO) today announced the relocation of its corporate headquarters to One Broadway in Cambridge, Massachusetts, effective today. Consistent with the Company's goal of streamlining operations to align with its needs going forward, the new facility consists of approximately 5,000 square feet of office space under flexible lease terms, with no laboratory or vivarium space. The new headquarters represents a reduction of approximately 90% in facilities from its prior Cambridge location at 650 E. Kendall Square. AVEO also announced today the unveiling of a new corporate logo.
"Relocation of our corporate headquarters is one of the final steps in achieving the cost containing goals set out in our strategic restructuring we announced in January, which included elimination of our internal research function and a reduction in our facility requirements, thereby releasing us from costly laboratory and vivarium space," said Michael Bailey, AVEO's president and chief executive officer. "AVEO is now a streamlined organization with its resources squarely focused on the execution of a strategy aimed at leveraging biomarker insights and exploring partnership opportunities to advance our pipeline. We look forward to making progress toward our goals in the near future, and to outlining a path forward for the new AVEO."
AVEO Oncology (AVEO) is a biopharmaceutical company committed to developing targeted therapies through biomarker-driven insights to provide improvements in patient outcomes where significant unmet medical needs exist. AVEO's proprietary Human Response Platform™ has delivered unique insights into cancer and related disease biology that AVEO is seeking to leverage in the clinical development strategy of its therapeutic candidates. For more information, please visit the Company's website at www.aveooncology.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements of AVEO within the meaning of The Private Securities Litigation Reform Act of 1995 that involve substantial risks and uncertainties. All statements, other than statements of historical facts, contained in this press release are forward-looking statements. The words "anticipate," "expect," "intend," "may," "plan," "could," "should," "seek," "look forward," "goals," "objectives'" or the negative of these terms or other similar expressions, are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements include, among others, statements about: the Company's plans to make progress in realizing its corporate goals and to outline its path forward. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements that AVEO makes due to a number of important factors, including those risks discussed in the section titled "Risk Factors" included in AVEO's most recent Annual Report on Form 10-K, its quarterly reports on Form 10-Q and in its other filings with the SEC. The forward-looking statements in this press release represent AVEO's views as of the date of this press release. AVEO anticipates that subsequent events and developments will cause its views to change. However, while AVEO may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. You should, therefore, not rely on these forward-looking statements as representing AVEO's views as of any date subsequent to the date of this press release.