Salt Lake City

Mayor's Office

Jacqueline M. Biskupski | (801) 535-7704 | mayor@slcgov.com

PolarityTE Announces New Headquarters Relocation to Accommodate Rapid Growth

Biotechnology company PolarityTE, Inc. (Nasdaq: PTE), has announced its new corporate headquarters location at 123 N Wright Brothers Drive in Salt Lake City, which will open in December 2018. The 40,000-sq. ft. building will have over 100 employee offices and house research testing labs. The Company’s existing space at 1960 South 4250 West will continue to serve as the central campus for PolarityTE manufacturing and research and development.

“This is an exciting time for PolarityTE as we continue to advance operations. Expanding to new corporate headquarters marks a milestone for the company, our employees, and the healthcare providers and patients we work to serve, all who will benefit from the opportunities this expansion presents,” says Denver M. Lough, MD, PhD, Chairman and Chief Executive Officer of PolarityTE. “We are thrilled to further entrench our presence in Salt Lake City, which has proven itself the best place for us to develop the company. The talent in the city, its proximity to an international airport, and the supportive startup biotech community have all contributed to our success, and we look forward to continued growth within the community.”

PolarityTE is focused on transforming the lives of patients by discovering, designing, and developing regenerative tissue products and biomaterials. In less than two years, the company has grown from a few doctors and scientists who initially left academic medicine to build the company, to more than 120 employees – most of whom were pulled from Utah’s impressive talent pool. The company joins other startup success stories out of Salt Lake City made possible by a collaborative and supportive business environment.

PolarityTE is committed to further developing the Salt Lake City biotech community. The company will continue to support the Utah life science community by attracting and retaining life sciences talent and expanding the industry’s presence and Utah’s position on the global map of biotech hubs.

“As a burgeoning sector of Salt Lake City’s economy, we value our partnership with PolarityTE,” says Lara Fritts, director of Salt Lake City’s Department of Economic Development. “We are excited about their new facility as it is a contributor in the continued growth of the biotech industry in Salt Lake City.”

About PolarityTE: PolarityTE is a commercial-stage biotechnology and regenerative biomaterials company focused on transforming the lives of patients by discovering, designing and developing a range of regenerative tissue products and biomaterials for the fields of medicine, biomedical engineering and material sciences. The PolarityTE platform technology begins with a small piece of the patient’s own, or autologous, healthy tissue, rather than artificially manipulated individual cells. From this small piece of healthy autologous tissue, the company creates an easily deployable, dynamic and self-propagating product designed to enhance and stimulate the patient’s own cells to regenerate the target tissues. Rather than manufacturing with synthetic and foreign materials within artificially engineered environments, PolarityTE manufactures with the patient’s own tissue and uses the patient’s own body to support the regenerative process to create the same tissue from which it was derived. PolarityTE’s innovative method is intended to promote and accelerate growth of the patient’s tissues to undergo a form of effective regenerative healing. Learn more at www.PolarityTE.com – Welcome to the Shift®.

About Salt Lake City Department of Economic Development: Formed in 2016, under the leadership of Mayor Jackie Biskupski, Salt Lake City’s Department of Economic Development is focused on building Salt Lake City as a vibrant, beautiful, prosperous, diverse, and authentic place – a place that is economically accessible to everyone. Known as the “Crossroads of the West,” Salt Lake City is strategically located for businesses to succeed. SLCDED works to streamline processes, provide excellent customer service, and offer an array of resources and services to recruit and retain businesses in the City, and ensure they have the tools to thrive.

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