Comera Life Sciences Expands Woburn Operations

Rhea-AI Summary

Comera Life Sciences Holdings (CMRA) has expanded its Woburn, MA operations with a new 5,000 square foot facility, which includes enhanced R&D laboratory space and executive offices. This expansion, celebrated in a ribbon-cutting event, aims to double the company's workforce in the coming years. The company focuses on developing subcutaneous therapeutics to improve patient access to biologic medicines, potentially reducing the need for intravenous administration. This milestone follows Comera's recent debut on the Nasdaq index in May 2022.

Positive

• Expansion of operations in Woburn, MA, with a new facility of over 5,000 square feet.
• Ability to double the workforce in the coming years, indicating growth potential.
• Focus on developing subcutaneous therapeutics to improve patient access to medications.

Negative

• Risks associated with reliance on collaborations with larger biopharmaceutical companies.
• Potential challenges in executing business strategy and accessing necessary capital.

Elected Officials, Industry Leaders Celebrate Biotech Workforce Growth at Ribbon-Cutting Event

WOBURN, Mass., Oct. 04, 2022 (GLOBE NEWSWIRE) -- Comera Life Sciences Holdings, Inc. (Nasdaq: CMRA), a life sciences company developing a new generation of bio-innovative biologic medicines to improve patient access, safety, and convenience, today announced the expansion of its Woburn, Mass. operations with a ribbon-cutting ceremony. The space at 12 Gill St. in Woburn, Mass., spans over 5,000 square feet and includes an expanded laboratory space for R&D activities as well as new executive offices.

The Comera team was joined by state and local officials and members of the biotech industry, including Massachusetts State Senator Cindy F. Friedman, Massachusetts State Representative Richard M. Haggerty, Woburn Mayor Scott Galvin and Massachusetts Biotechnology Council (MassBio) President and COO Kendalle Burlin O’Connell. Comera currently has 12 employees. The increased footprint will allow the company to double its workforce in the coming years.

“The expansion of our headquarters in Woburn is a milestone achievement as we continue to advance our internal pipeline and collaborations with some of the largest biopharmaceutical companies,” said Jeffrey Hackman, Chairman and CEO of Comera. “This expansion is another step forward in supporting our continued growth as we execute on our long-term strategy to transform the lives of patients.”

Comera is developing a portfolio of proprietary injectable therapeutics – called subcutaneous (SQ) therapeutics – with the goal of making it possible for patients to administer medications that historically have been administered only by intravenous (IV) infusion. The company applies its team’s deep knowledge of formulation science and technology to transform essential biologic medicines from IV to SQ forms, which has the potential to spare patients long trips to a hospital or infusion center, where they may stay for hours to receive treatment.

“Access to necessary and lifesaving medications is a huge barrier for many in our commonwealth,” said Friedman, Senate Chair of the Joint Committee on Health Care Financing. “The work of Comera Life Sciences seeks to directly address this barrier by providing a more convenient and equitable way to access these medications. I am pleased to have Comera continue this important work in Woburn and Massachusetts.”

“I am thrilled to see Comera expanding its footprint here and continuing to develop biologic medicines in our city,” said Haggerty. “Life science firms see the benefits of locating and growing in Woburn, and I look forward to seeing what the future holds for Comera as the firm grows and increases its workforce in our community.”

“As the life sciences industry in Massachusetts continues to regionalize to places outside of Boston and Cambridge like Woburn, it makes careers available to new pools of talent and brings economic development to new cities and towns that are BioReady,” said Burlin O’Connell. “I am pleased to celebrate with our MassBio member Comera as they reach this milestone in their growth and continue to seek to deliver comfort and accessibility to patients.”

The expansion is the latest milestone achieved by Comera this year. The company made its debut as a publicly traded company on the Nasdaq index in May.

About Comera Life Sciences

Leading a compassionate new era in medicine, Comera Life Sciences is applying a deep knowledge of formulation science and technology to transform essential biologic medicines from intravenous (IV) to subcutaneous (SQ) forms. The goal of this approach is to provide patients with the freedom of self-injectable care, reduce institutional dependency and to put patients at the center of their treatment regimen.

To learn more about the Comera Life Sciences, visit comeralifesciences.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the federal securities laws including statements regarding our ability to execute on our business strategy and our ability to access the $15 million in proceeds under the purchase agreement, or to exercise the option for an additional $15 million, due to the limitations contained in the purchase agreement. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including, but not limited to: risks that the limitations in the purchase agreement will limit our sales and/or prevent us to exercise our option or that we will need to seek stockholder approval, which we may not be able to obtain, to remove such limitations; that the recently completed business combination disrupts the Company’s current plans and ability to retain its employees; the Company’s ability to maintain the listing of its securities on the Nasdaq Capital Market; the effect of the COVID-19 pandemic on the Company’s business; the price of the Company’s securities may be volatile due to a variety of factors, including changes in the competitive and highly regulated industries in which the Company plans to operate, variations in performance across competitors, changes in laws and regulations affecting the Company’s business and changes in the capital structure; the ability to implement business plans, forecasts, and other expectations and identify and realize additional opportunities; the risk of downturns and the possibility of rapid change in the highly competitive industry in which the Company operates; the risk that the Company and its current and future collaborators are unable to successfully develop and commercialize the Company’s products or services, or experience significant delays in doing so; the risk that we will be unable to continue to attract and retain third-party collaborators, including collaboration partners and licensors; the risk that the Company may never achieve or sustain profitability; the risk that the Company will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all; the risk that the Company experiences difficulties in managing its growth and expanding operations; the risk that third-party suppliers and manufacturers are not able to fully and timely meet their obligations; the risk that the Company is unable to secure or protect its intellectual property; the risk that the Company is unable to secure regulatory approval for its product candidates; general economic conditions; and other risks and uncertainties indicated in the Current Report on Form 8-K filed with the SEC on May 25, 2022 under “Risk Factors” and in other filings that have been made or will be made with the SEC. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Comera’s Current Report on Form 8-K filed with the SEC on May 25, 2022 and other documents filed by Comera from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Comera assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Comera can give no assurance that it will achieve its expectations.

Contacts

Comera Investor:
John Woolford
ICR Westwicke
John.Woolford@westwicke.com

Comera Press:
Greg Turner
Ball Consulting Group, LLC
greg@ballcg.com
617-243-9950

Karen Chase
ICR Westwicke
Karen.Chase@westwicke.com

FAQ

What recent announcement did Comera Life Sciences make on October 4, 2022?

Comera Life Sciences announced the expansion of its Woburn, MA operations with a new facility.

How will the expansion of Comera's operations affect its workforce?

The expansion is expected to double Comera's workforce in the coming years.

What is the focus of Comera Life Sciences in developing new therapeutics?

Comera focuses on creating subcutaneous therapeutics to improve patient access to biologic medicines.

What milestone did Comera achieve earlier in 2022?

Comera made its debut as a publicly traded company on the Nasdaq index in May 2022.

What are the risks mentioned by Comera Life Sciences in their press release?

Risks include challenges in executing business strategy and potential difficulties in accessing capital.