Portland-based biotech firm completes move to Bay Area

Galena Biopharma moving to San Francisco.

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Galena Biopharma is moving to San Francisco.

The company’s Portland office will be shuttered at the end of the year without laying off any workers.

The immunotherapy company (NASDAQ: GALE) relocated to the Portland area in Sept. 2011 from Worcester, Massachusetts, where it went by RXi Pharmaceuticals. Executives at the time called Oregon the ideal location for the company, citing the region’s cancer research efforts and, in particular, the ability to be near Oregon Health & Science University’s Knight Cancer Institute.

Galena on Monday announced that it plans to shed its current product portfolio — Abstral sublingual tablets and Zuplenz Oral Soluble Film. It will instead focus on its oncology pipeline: the NeuVax breast cancer vaccine it’s developing, as well as another immunotherapy drug, GALE-301.

(SOURCE: Portland Business Journal)

Reversing that route, the founder of Simple Alex Payne, who relocated from the Bay to Portland, is warning his counterparts about moving north.

He wrote an essay stressing the importance of avoiding driving up housing prices.

“In the minds of Portlanders, SF is less a place than a cautionary tale come to life: a shambling horror of greed, NIMBYism, and inept planning. When I meet people who have recently moved to the Bay Area, I half-jokingly tell them that I’ll see them up in Portland in a year or two. Based on real estate data, that may well be true.

“It’s not hard to spot affluent people who are scouting out Portland as a possible new home – lifestyle shopping. They’re in the coffee shops loudly taking WebEx meetings between house tours. They’re waiting in long lines for artisanal donuts and ice cream, their children squirming with boredom. They talk about the restaurants – so good, and so affordable! Everything about Portland is, for them, cute. Real estate agents are not showing them the neighborhoods where homeless camps have claimed the sidewalks.”

(SOURCE: Willamette Week)

Find his essay here.

RELATED NEWS: The Death and Live of American Cities Simple now publicly available, CTO steps downNew Relic continues downtown Portland expansionBendafornia: What’s driving the Northern California migration?

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