On September 7, 2022, Biomea Fusion, Inc. and Box, Inc. entered into a sublease agreement for office and research and development space. The Premises consist of 27,003 square feet located at 900 Middlefield Avenue, Redwood City, California. The Company has been occupying the Premises since January 2022 under a separate sublease agreement which expires in December 2022.
The term of the Sublease is expected to commence, subject to certain conditions, on January 1, 2023 (the “Commencement Date”). The Sublease has a term of 30 months from the Commencement Date, subject to earlier termination upon any termination of the master lease under which Sublandlord has leased the Premises from the master landlord. Under the Sublease, the Company is obligated to pay a base rent of $222,774.75 per month during the first twelve months of the Term, $229,457.99 per month for the second twelve months of the Term and $236,341.73 for the remaining six months of the Term.
The Company is also obligated to pay to the Sublandlord a pro-rated portion, as set forth in the Sublease, of certain direct expenses and the costs of utilities under the Sublandlord’s master lease with the master landlord. In addition, the Company has agreed to pay delinquency for all maintenance, repairs and replacements to the Premises during the Term, provided that such obligation shall not extend to the master landlord’s obligations arising under the master lease that are the master landlord’s sole cost and expense.
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