Alseres Pharmaceuticals, Inc announced that following the expiration of its current leases it will consolidate its offices to a new headquarters in Hopkinton, Massachusetts.

"With the lease for the Hopkinton and Woburn offices expiring concurrently, we decided to consolidate our offices under one roof. The new offices will be located at 239 South Street Hopkinton, MA. This facility will provide Alseres with increased flexibility and expansion potential if needed," commented Kenneth L Rice, Jr, Alseres' chief financial officer. "The new facility provides very attractive economics relative to the market, a 3-year renewable lease, and is expected to continue to reduce on-going overhead expenses for facility operation, which we believe will allow a greater share of financial resources to be devoted to program and business development."

Hopkinton is located 26 miles southwest of Boston. The town provides a biotech friendly environment easily accessible from both Boston and Providence airports.

Alseres Pharmaceuticals, Inc. (ALSE) is engaged in the development of therapeutic and diagnostic products primarily for disorders in the central nervous system (CNS).