San Francisco Mayor Gavin Newsom Friday welcomed a new biotech company to the city’s Mission Bay neighborhood that will add an estimated 150 jobs.

Nektar Therapeutics, formerly based in San Carlos, will move its corporate headquarters, as well as a research and development center, to a facility next to the University of California, San Francisco’s Mission Bay campus.

The biopharmaceutical company will occupy a space originally intended for Pfizer, which decided this summer not to pursue the location.

The new facility is scheduled to be completed later next year, according to the mayor’s office.

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