FOR IMMEDIATE RELEASE
JANUARY 14, 2019
Montgomery County announces support for biotechnology company autolus
NEW u.s. headquarters and manufacturing site
ROCKVILLE, MD, January 14, 2019 – Montgomery County today announced its support for the new U.S. headquarters and manufacturing site of Autolus Therapeutics plc (NASDAQ: AUTL), a clinical-stage biopharmaceutical company developing next-generation programmed T cell therapies. Autolus has signed a long-term, full building lease with Alexandria Real Estate Equities, Inc. (NYSE: ARE) for the development and construction of an 85,000 square foot facility in the Shady Grove Life Sciences Center in Rockville, MD that will contain the company’s US-based R&D, commercial and corporate functions and serve as its first commercial-scale manufacturing center. In addition, Autolus has leased and moved into 27,000 square feet of offices in Rockville to serve as temporary U.S. headquarters. The company projects that it will add up to about 170 full time jobs over the next three years as it expands its operations in Maryland.
“Maryland, and Montgomery County in particular, are among the country’s largest and most dynamic biotech hubs and offer Autolus the opportunity to tap into an attractive ecosystem of life sciences companies and a network of academic and government research institutions. Together with the strong support of the biotech sector from state and local governments, it creates an ideal environment for us to grow our U.S. operations,” said Matthias Alder, senior vice president and chief business officer of Autolus.
“Autolus’ decision to locate its new U.S. headquarters and create more than 170 jobs in our state underscores our administration’s promise to continue creating job opportunities for Marylanders, particularly in a field as close to my heart as cancer research,” said Governor Larry Hogan. “Our highly-educated workforce and proximity to leading federal research labs and world-class universities makes Maryland an outstanding location for global companies looking to establish or grow their U.S. presence in the life sciences and technology sectors.”
“The attraction of this British life sciences company – including its American headquarters and manufacturing facility – is a testament to the strength of Montgomery County’s ever-expanding biotechnology cluster,” said Marc Elrich, County Executive. “We are particularly excited that Autolus’ therapies could spur new treatment options for cancer patients.”
“Autolus is a powerful addition to our growing gene therapy cluster,” noted Montgomery County Council President Nancy Navarro. “This new R&D facility in our Shady Grove Life Sciences Center reflects our county’s competitiveness for international companies.”
“We are proud to welcome Autolus to the Montgomery County community, as it quickly joins the ranks as one of the largest biotech companies in this area,” says David Petr, President and CEO of Montgomery County Economic Development Corporation (MCEDC). “It is not only significant that Autolus will add almost 200 jobs to the region through 2020, but that these positions will cut across multiple skill levels and training requirements and pay enough wages for the employees to live in the county.”
The project will have an anticipated investment of approximately $23-28 million in the short term.
Montgomery County is participating in this project with a $200,000 Economic Development Fund conditional grant, while the State of Maryland is providing a $525,000 Advantage Maryland (formerly Maryland Economic Development Assistance Authority and Fund) conditional loan. In addition, as Autolus expands operations, it is expected to be able to take advantage of other Montgomery County programs including New Jobs Tax Credits, and State of Maryland programs including Job Creation Tax Credits and More Jobs for Maryland manufacturing tax credits.
The Montgomery County Economic Development Corporation (MCEDC) is the official public-private organization representing Montgomery County, Md. The organization was created in 2016 to help businesses start, grow and exceed expectations by helping them gain access to top talent, business and market intelligence and prime locations. For more information, visit our website at thinkmoco.com. Follow us on Twitter, Facebook and LinkedIn.
About Autolus Therapeutics plc
Autolus is a clinical-stage biopharmaceutical company developing next-generation, programmed T cell therapies for the treatment of cancer. Using a broad suite of proprietary and modular T cell programming technologies, the company is engineering precisely targeted, controlled and highly active T cell therapies that are designed to better recognize cancer cells, break down their defense mechanisms and eliminate these cells. Autolus has a pipeline of product candidates in development for the treatment of hematological malignancies and solid tumors. For more information, go to https://www.autolus.com.
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts, and in some cases can be identified by terms such as "may," "will," "could," "expects," "plans," "anticipates," and "believes." These statements include, but are not limited to, statements regarding the company's product candidates and research programs. Any forward-looking statements are based on management's current views and assumptions and involve risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. For a discussion of other risks and uncertainties, and other important factors, any of which could cause our actual results to differ from those contained in the forward-looking statements, see the section titled "Risk Factors" in the company's Annual Report on Form 20-F filed on November 23, 2018 as well as discussions of potential risks, uncertainties, and other important factors in the company's future filings with the Securities and Exchange Commission from time to time. All information in this press release is as of the date of the release, and the company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law.