AVEO Oncology, a biopharmaceutical company developing targeted therapies through biomarker-driven insights, has relocated its corporate headquarters to Cambridge, Mass.

The new facility consists of approximately 5,000 square feet of office space under flexible lease terms, with no laboratory or vivarium space. The new headquarters represents a reduction of approximately 90% in facilities from its prior Cambridge location in Kendall Square. AVEO also unveiled a new corporate logo.

"Relocation of our corporate headquarters is one of the final steps in achieving the cost containing goals set out in our strategic restructuring announced in January, which included elimination of our internal research function and a reduction in our facility requirements, thereby releasing us from costly laboratory and vivarium space," said Michael Bailey, AVEO's president and CEO. "AVEO now is a streamlined organization with its resources squarely focused on the execution of a strategy aimed at leveraging biomarker insights and exploring partnership opportunities to advance our pipeline."