Item 2. Properties
ITEM
2.
PROPERTIES
General
In
general, we believe that our properties are well-maintained, adequate and suitable for their current requirements and for our
operations in the foreseeable future. See the Notes to Consolidated Financial Statements – Note 14. Commitments and
Contingencies included elsewhere in this Report.
Lineage
Facilities
Our
corporate headquarters comprise 8,841 square feet of rentable space in an office park in Carlsbad, California. We also sublease
2,432 square feet of space in Alameda, California.
Cell
Cure Facilities
Cell
Cure leases 728.5 square meters (approximately 7,842 square feet) of office and laboratory space in the Bio Park on the campus
of the Hadassah University Hospital in Jerusalem, Israel under a lease that expires on December 31, 2025. We have an option to
extend the term for an additional 5 years.
In
January 2018, Cell Cure entered into another lease for an additional 934 square meters (approximately 10,054 square feet) of office
space in the same facility in Jerusalem, Israel under a lease that expires on December 31, 2025, with two options to extend the
lease for 5 years each. The term of this lease commenced on April 1, 2018 and includes a leasehold improvement construction allowance
of up to NIS 4,000,000 (approximately up to $1.1 million) from the landlord. The leasehold improvements were substantially completed
by December 31, 2018 and the construction allowance was fully utilized.
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