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$1.2 billion startup Flatiron Health is leaving the Flatiron neighborhood behind as it amps up its cancer technology

Published by Business Insider on Wed, 17 Jan 2018

Flatiron Health will be leaving the Flatiron neighborhood in New York in spring 2018.The $1.2 billion company is moving into a 108,000 square-foot space at One SoHo Square, a space that's almost twice the size of its current office at 250 Fifth Ave.Along with the move, Flatiron will get $6 million in performance-based tax credits.Flatiron Health, a New York-based healthcare technology startup, is moving.The $1.2 billion company is relocating its headquarters in spring 2018 from the Flatiron neighborhood to One SoHo Square, a building that's also home to Warby Parker and Glossier. The 108,000 square-foot space is almost twice the size of Flatiron's current office.As part of the move, Flatiron will get $6 million in performance-based tax credits and has plans to create more than 300 jobs over the next five years."Companies like Flatiron Health create quality jobs and spur rapid advancement in New York's growing healthcare and technology industries," Empire State Development CEO Howard Zemsky said in a statement. "Flatiron's expansion will broaden our understanding of cancer research and patient care and support the states cutting edge life sciences sector."Flatiron was represented by real estate brokers at Savills Studley in the deal, while the building's owners were represented by Newmark Knight Frank represented the building's owners Steller Management and Imperium Capital.Flatiron uses technology tocollect clinical data from cancer patients.With that information,such as details on what medications patients have taken and how they have responded to them over the course of treatment, the hope is that healthcare professionals can have a better idea of how cancer drugs work in the "real world" in hospitals and cancer centers as opposed to during clinical trials.The company has raised more than $300 million from investors including GV and the pharmaceutical giant Roche."The move to the new officealmost double our current sizegives us the much needed flexibility to grow our team working to accelerate cancer research in the months and years to come," Flatiron CEO Nat Turner said in a news release.SEE ALSO:The billion-dollar startups revolutionizing healthcare you should be watching in 2018Join the conversation about this storyNOW WATCH: Expect Amazon to make a surprising acquisition in 2018, says CFRA
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