Nanōmix is a world leader in mobile point-of-care diagnostics. Their handheld testing platform and on-demand assays provide medical personnel with fast, accurate information when time is of the essence. By simplifying the diagnostic process, whether the patient is in the hospital or another type of setting, fast decision-making is improving clinical outcomes for patients and reducing the strain on caregivers and the medical system in general.
Following a 2017 collaboration with a major biotech company overseas, Nanōmix experienced a product pivot. Their focus going forward was on adapting their products for use in the Asian market, both for medical and veterinary applications, leading to the need to reposition their 35,000 square-foot research lab.
IPG was hired by Nanōmix to both lessen the economic burden of their 35,000 square foot asset, and also to acquire a new 15,000 square-foot biotech lab in Emeryville, CA, where vacancy rates are less than one percent.
The Challenges
1
The client had experienced a significant product pivot
2
The lack of availability of suitable properties in Emeryville
3
A very challenging project from several standpoints
The client had experienced a significant product pivot, which prompted their executive team to downsize their research laboratory and focus on new product production in a new facility.
This was a very challenging project from several standpoints, not the least of which was the lack of availability of suitable properties in Emeryville. The outcome was successful, due in no small part to combined perseverance by the IPG team and great patience from Nanōmix.
Ultimately, working together with a shared focus and the implicit trust the clients placed in our counsel resulted in a positive outcome for all.
The Success
1
Capital conservation & Sublease 25,000 of the Stanford Ave. site
2
Reduced Nanōmix’s exposure by 65 percent
3
Acquisition of more cost-efficient headquarters for Nanōmix R&D labs
