CytoSorbents Corp. is moving its global headquarters from Monmouth Junction to Princeton, it announced Monday, leasing space in Princeton Forrestal Village.
The critical care immunotherapy company, which is noted for its blood purification technology CytoSorb, signed an agreement with National Business Parks to lease about 48,500 square feet at 305 College Road E., a mixed-use facility.
“We are incredibly pleased to work with National Business Parks to lease the facility at 305 College Road E., which has a solid existing infrastructure to meet our unique operational needs,” President and Chief Operating Officer Vincent Capponi said in a prepared statement. “With other modifications that will be made to the space, we will be able to consolidate all of our operations in one building and allow the launch of new product lines.”
The new location is expected to contain all of CytoSorbents’ administrative, clinical, commercialization, manufacturing and research & development activities.
“The changes we are planning will also allow us to increase our CytoSorb production from our current $80 million annual capacity to approximately $300 to $400 million annually to support our future growth while allowing us to achieve further economies of scale,” Capponi said.
He noted that the company plans to continue to use it Deer Park manufacturing facility in Monmouth Junction, exiting in a staged fashion between now and Dec. 31, 2022.
“As we move forward to our next stage of growth, we want to thank Kent Management of Princeton Corporate Plaza for their wonderful support and innovative solutions to meet our growing design and space needs over the past many years,” he added.
The 15-year lease in Princeton is expected to start June 1.