Fifteen Year Lease Includes Expansion Rights
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SAN DIEGO, Calif. – June 6, 2006 - Pharmatek Laboratories, Inc. today announced plans to relocate its
San Diego-based operations to a larger facility in December 2006.
Pharmatek - a premier pharmaceutical chemistry development organization supporting the
pharmaceutical industry - will enter into a fifteen-year lease providing the company access to
approximately 34,000 sq. ft. of laboratory and office space with the right to expand to 64,000 sq. ft. The
new facility will be at 7330 Carroll Road, San Diego, California 92121.
"This move is an integral component of Pharmatek's strategy to grow our pharmaceutical chemistry
development business while maintaining our client-centric approach," said Timothy Scott, president of
Pharmatek. "The permanency and stability of a fifteen-year lease reinforces our commitment to serve our
customers over the long haul. The option to expand allows us to increase capacity both now and in the
future."
Pharmatek's new location will initially more than triple its available laboratory space and house more
than 100 employees focused on analytical development, preformulation testing, formulation development,
GMP manufacturing, and stability storage and testing.
"With increased space for additional equipment and technologies, this new facility will enable us to
continue providing exceptional service to our growing portfolio of clients," said Dr. Jeffrey Bibbs, CEO
and CSO of Pharmatek. "Our focus has always been on our clients' needs. This larger facility, built to
our specifications, will better meet those needs and the growing demand for drug development
outsourcing among biotechnology and pharmaceutical companies."
About Pharmatek Laboratories, Inc.
Pharmatek Laboratories, Inc. is a premier pharmaceutical chemistry development organization supporting the pharmaceutical and biotechnology industries. Pharmatek focuses on bringing client compounds from discovery to the clinic with services that include compound selection, analytical development, preformulation testing, formulation development, GMP manufacturing and stability storage and testing.
Company Contact:
Elizabeth Hickman, Marketing Manager
Pharmatek Laboratories, Inc.
(858) 805-6383
ehickman@pharmatek.com
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