Gene Therapy Company Announces New HQ in Montgomery County, Maryland
REGENXBIO to double its workforce and triple its commercial space within five years
REGENXBIO Inc. (Nasdaq: RGNX), a leading clinical-stage biotechnology company seeking to improve lives through the curative potential of gene therapy based on its proprietary NAV® Technology Platform, has announced that it will expand into a new headquarters and R&D facility in Montgomery County, Md. The company entered into a 15-year, 132,000 square foot lease with expansion options in a 175,000 square foot build-to-suit facility to be developed by Alexandria Real Estate Equities, Inc. (NYSE: ARE) at the Alexandria Life Science and Translational Research Center at 9800 Medical Center Drive in Rockville. The ground-up development project is expected to be completed in 2020. The company currently employs more than 150 people and plans to grow to more than 300 employees within five years.
The company has developed a proprietary gene delivery platform (“NAV Technology”) that uses viral vectors to deliver genes to cells. Using the NAV Technology Platform, REGENXBIO is developing five investigational gene therapies in retinal, metabolic and neurodegenerative diseases. In addition, REGENXBIO’s NAV Technology Platform is currently being applied in the development of more than 20 partnered product candidates by licensees. Fourteen of these partnered product candidates are in active clinical development and one partnered product candidate has been submitted in a Biologics License Application (BLA) by Novartis AG.
“The relocation of our headquarters to 9800 Medical Center Drive will enable us to continue to meet our needs for growth in our talent and capabilities – including the potential for installing our own cGMP production facility – in order to support the development and launch of NAV Technology-based treatments,” said Kenneth T. Mills, President and CEO of REGENXBIO. “We are fortunate to secure a new location that keeps us in Montgomery County and supports our continued evolution as a company.”
“REGENXBIO has doubled its number of employees every 18 months since April of 2015,” noted County Executive Isiah Leggett. “The company has an extraordinary record of scientific and corporate achievements, and we are excited that it will occupy a new building in the Shady Grove Life Science Center.”
“We are very proud that REGENXBIO, a current Alexandria tenant, will anchor the new development project on our 9800 Medical Center Drive campus,” said Larry Diamond, co-Chief Operating Officer and Maryland Regional Market Director of Alexandria. “Alexandria is uniquely positioned to create a premier facility on a dynamic campus that will offer REGENXBIO a compelling opportunity to recruit and retain top talent and to collaborate in pursuit of its mission to transform the lives of patients suffering from diseases with significant unmet needs.”
Montgomery County Economic Development Corporation (MCEDC) worked to bring all partners to the table, facilitated the project development and coordinated joint incentives from the state and county.
“REGENXBIO has solid funding, a highly experienced executive team, and a true breakthrough in the gene therapy vector space,” said David Petr, MCEDC President and CEO. “We are pleased to support its continued growth here.”
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 www.thinkmoco.com. Follow us on Twitter, Facebook, and LinkedIn.
About REGENXBIO Inc.
REGENXBIO is a leading clinical-stage biotechnology company seeking to improve lives through the curative potential of gene therapy. REGENXBIO's NAV® Technology Platform, a proprietary adeno-associated virus (AAV) gene delivery platform, consists of exclusive rights to more than 100 novel AAV vectors, including AAV7, AAV8, AAV9 and AAVrh10. REGENXBIO and its third-party NAV Technology Platform Licensees are applying the NAV Technology Platform in the development of a broad pipeline of candidates in multiple therapeutic areas.