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IDEC PHARMACEUTICALS SIGNS LEASE FOR UNIFIED CORPORATE HEADQUARTERS AND PILOT PLANT

 LA JOLLA and MOUNTAIN VIEW, Calif., Nov. 30 ~PRNewswire~ -- IDEC Pharmaceuticals Corporation (NASDAQ: IDPH) has leased a 70,000 square foot building in San Diego, Calif., as the site for its new corporate headquarters, research laboratories and mammalian cell-culture pilot plant. The company plans to move its entire operations to the facility beginning in mid-1993, following lease-hold improvement construction. All employees at the company's Mountain View location have been invited to relocate to San Diego and are eligible to receive financial assistance to make the move.
 "The two-story building is 40 percent larger than our combined facilities in Mountain View and La Jolla," said William H. Rastetter, Ph.D., president and chief executive officer of IDEC Pharmaceuticals. "Our move to this new site -- only a few hundred yards from IDEC's present La Jolla location -- will enable us to fulfill the corporate unification goal we announced in February 1992. Beyond unification of our northern and southern California operations, the new facility will accommodate further growth in personnel and have expanded pilot- plant operations."
 The interior layout of the existing structure at 11011Torreyana Road is being designed by architects at McGraw~Baldwin of San Diego. The extensive build-out will be financed substantially as part of t1?5-year le as with the landlord, Torrey Sorrento Inc., La Jolla. The project is being developed on behalf of the building owner by The Del Mar Partnership, Del Mar. The facilities will include a state-of- the-art pilot plant for production of antibodies for use in the company's ongoing human clinical studies and for initial commercialization of these product candidates. "We expect to occupy administrative and research space as early as May 1993. Occupancy of the pilot plant is projected to follow a few months later," Dr. Rastetter said.
 IDEC Pharmaceuticals is a leader in the development of immunologically active monoclonal antibodies for therapeutic applications. These agents are designed to act through immune system mechanisms and potentially offer greater specificity of action, longer therapeutic effect and lower toxicity than is typical of existing therapies. Current human clinical trials are focused on product candidates for the treatment of immune system cancers (lymphomas and leukemias), malignant melanoma, and HIV infection. The company is in earlier stages of preclinical testing of additional therapeutic agents for autoimmune diseases and cancer.
 IDEC Pharmaceuticals is headquartered at 11099 North Torrey Pines Road, La Jolla, CA 92037. Company operations are also located in Mountain View, CA.
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 ~CONTACT: Richard W. Krawiec, Director, Investor Relations and Corporate Communications, 619-458-0600, r Clifford Orent, Senior VP and COO, 415-940-1200, both of IDEC Pharmaceuticals~
 (IDPH)


CO: IDEC Pharmaceuticals Corporation ST: California IN: MTC SU:

JB-LS -- SD002 -- 1856 11~30~92 11:01 EST
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Publication:PR Newswire
Date:Nov 30, 1992
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