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Makana Therapeutics moves headquarters to Miami – South Florida Business Journal – The Business Journals

A biotechnology company that develops and harvests animal organs for human transplantation has relocated its headquarters from Eagan, Minnesota to Miami’s Little River area.
Makana Therapeutics began transitioning into the 10,000-square-foot space at 390 N.E. 72nd Terrace in February, company spokesman Mark Leonard stated in an email to the Business Journal. Cooper Jones from Foundry Commercial’s Coral Gables office represented Makana in the three-year lease deal.
The company’s Eagan facility will remain open, Leonard added.
Makana moved its corporate address to Miami to ensure closer “synergy” with the Miami Transplant Institute, a surgical transplant service based in the city’s Allapattah neighborhood. Jackson Memorial Hospital and the University of Miami Health System operate the institute.
A. Joe Tector, a surgeon at Miami Transplant Institute, is the founder of Makana.
“…His work at the xenotransplantation program at the Miami Transplant Institute is an important element to Makana’s planned clinical trial,” Leonard said.
Xenotransplantation is a procedure that aims to circumvent the world’s shortage of organ donors by using non-human cells, tissues, or organs for transplants.
Makana claims its pigs have been genetically modified to prevent adverse immune responses in humans. These pigs, which Makana calls “triple knockout (TKO) pigs,” can be suitable kidney donors for “as many as 70% of kidney failure patients,” according to the company’s website.
“The TKO pig, combined with our advancements in immunosuppression and patient matching, has resulted in the longest and most consistent preclinical survival data in the xenotransplantation field,” Mark Platt, Makana’s president and CEO, claimed in a news release. “We are now focusing our efforts to translate that success in the clinic starting with kidney transplantation.”
Leonard stated Makana won’t disclose how many people work at the Little River office, but the company does plan to hire and expand its operations there in the future.
Companies from all over the U.S. have opened offices in South Florida during the pandemic in a trend that experts expect to continue through the rest of the year.
Makana has moved into a Miami neighborhood that’s transitioning from a working-class area with industrial warehouses into a growing market for offices as the cost to rent space rises in downtown Miami, the Wynwood Arts District and the Design District. In 2021, there were $68.6 million worth of land and building sale transactions in the Little Haiti-Little River area, according to data complied by Colliers and Real Capital Analytics. So far in 2022, there have been $83.6 million in sales transactions.
Asking lease rates per square foot for renovated properties in the Little Haiti-Little River have gone up from the low $20s to as high as $40, said Juan Andres Nava, managing director of Metro1 Properties.
Makana’s new corporate office is located in a converted warehouse building that was purchased by New York-based Abingdon Square Partners for $4 million in January 2020. The building, which was originally constructed in 1956, previously traded for $372,000 in October 1999. The building is adjacent to a 129,000-square-foot warehouse that was converted into Rail 71, an office and retail building, by developer Avra Jain and Metro1 Properties founder Tony Cho.
Jain and Cho bought the building, which was constructed in 1955, for $9.25 million in 2014. It was later purchased by The Morgan Reed Group for $11 million, said broker Tony Arellano, managing partner of Dwntwn Realty Advisors.
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