Women’s health-care product developer TherapeuticsMD has leased more than 56,000 square feet of office space in a new location in Boca Raton for its headquarters.
The company is in the process of moving into its new headquarters to 951 Yamato Road in Boca Raton, according to commercial real estate firm NAI/Merin Hunter Codman in West Palm Beach. The building recently completed a million-dollar improvement and is now 89 percent leased, according to the real estate company.
The 11-year lease cost is about $19.6 million, according to TherapeuticsMD’s regulatory filing for the quarter ended Sept. 30.
TherapeuticsMD has outgrown its 32,000-square-foot location at 6800 Broken Sound Parkway NW, said Josie Weitzel, director of corporate operations for TherapeuticsMD. Weitzel said the company has been searching for two years for the right space to provide a more “collaborative environment” for its staff.
A public company whose stock is traded on Nasdaq, TherapeuticsMD has been developing women’s health-care products for more than 10 years.
In August, TherapeuticsMD began distributing Imvexxy, its new treatment for menopausal women who experience painful sex due to vaginal atrophy. Imvexxy was approved for marketing by the U.S. Food and Drug Administration in May.
In October, it announced its single-pill hormone therapy for menopausal hot flashes was also approved for marketing by the FDA.
That same month, TherapeuticsMD was named Company of the Year by the state biotech organization BioFlorida.