Leading Oncology Drug Development Company to Move to Lenox Drive

Editor's Note: The following is a news release that was issued by the Celsion Corporation.

The Celsion Corporation, a leading oncology drug development company, announced yesterday that it expects to relocate its operations and corporate headquarters to Lawrenceville. 

The new headquarters, centrally located between New York City, Philadelphia, Princeton and Trenton, will house the company's research, clinical development and administrative operations, and accommodate Celsion's anticipated future staffing and facility needs. The Company plans to begin operations in its new headquarters at 997 Lenox Drive by the end of the fall.

"We have outgrown our current location. Celsion's new headquarters sits in proximity to many of the world's top biopharmaceutical companies, research institutions, academic centers and investment sources, providing access to this deep resource pool at a transformative stage in our development," said Michael H. Tardugno, Celsion's president and chief executive officer.

"This move underscores our commitment to long-term growth and value creation, as we work to build a leading oncology drug development company through the commercialization of ThermoDox® and development of our heat-activated liposomal technology platform," he added.

The Company anticipates no increase in occupancy costs as a result of its relocation. The 66-month lease is contingent upon receiving a Business Employment Incentive Program (BEIP) grant from the New Jersey Economic Development Authority. BEIP grants are available to economically viable expanding or relocating businesses that create jobs in New Jersey.