WAYNE, Pa., Feb. 17, 2015 (GLOBE NEWSWIRE) -- via PRWEB - Safeguard Scientifics, Inc. (NYSE:SFE) today announced that the Company will be relocating its corporate headquarters to Radnor Financial Center, 170 Radnor Chester Road, Suite 200, Radnor, PA 19087. The move will occur during the fourth quarter of 2015 following the expiration of its current lease.
To support the Company's strategic vision and future growth, Safeguard selected the Radnor location based on its accessibility to Philadelphia as well as the Philadelphia International Airport, mass transit and major highways. The new office is intended to provide a more collaborative and efficient space for employees, partner companies and business partners.
"The Greater Philadelphia area is experiencing robust growth--evidenced by the fact that entrepreneurs and venture capital firms alike are establishing and maintaining their roots here," said Stephen T. Zarrilli, President and CEO of Safeguard. "We believe that our new headquarters provides us better access to early- and growth-stage healthcare and technology companies and will more closely align with our vision to support innovation and entrepreneurship in the 21st century."
Brandywine Realty Trust owns the Radnor office location. Tactix Real Estate Advisors, LLC served as Safeguard's commercial real estate broker. D2 Interiors, Inc. will provide interior design services.
About Safeguard Scientifics
Safeguard Scientifics, Inc. (NYSE:SFE) has a distinguished track record of fostering innovation and building market leaders. For six decades, Safeguard has been providing growth capital and operational support to entrepreneurs across an evolving spectrum of industries. Today, Safeguard is focused specifically on two sectors--healthcare and technology. Recent successful exits include Alverix (acquired by Becton, Dickinson for $40 million); Crescendo Bioscience (acquired by Myriad Genetics for $270 million); NuPathe (acquired by Teva Pharmaceutical Industries for $144 million); and ThingWorx (acquired by PTC for initial proceeds of $112 million). For more information, please visit http://www.safeguard.com or Follow Us on Twitter @safeguard.
Forward-looking Statements
Except for the historical information and discussions contained herein, statements contained in this release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Our forward-looking statements are subject to risks and uncertainties. The risks and uncertainties that could cause actual results to differ materially include, among others, our ability to make good decisions about the deployment of capital, the fact that our partner companies may vary from period to period, our substantial capital requirements and absence of liquidity from our partner company holdings, fluctuations in the market prices of our publicly traded partner company holdings, competition, our inability to obtain maximum value for our partner company holdings, our ability to attract and retain qualified employees, market valuations in sectors in which our partner companies operate, our inability to control our partner companies, our need to manage our assets to avoid registration under the Investment Company Act of 1940, and risks associated with our partner companies, including the fact that most of our partner companies have a limited history and a history of operating losses, face intense competition and may never be profitable, the effect of economic conditions in the business sectors in which Safeguard's partner companies operate, and other uncertainties described in our filings with the Securities and Exchange Commission. Many of these factors are beyond the Company's ability to predict or control. As a result of these and other factors, the Company's past financial performance should not be relied on as an indication of future performance. The Company does not assume any obligation to update any forward-looking statements or other information contained in this press release.
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