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Regenxbio to double workforce, receive state funding for new HQ

Regenxbio Inc. will be the anchor tenant at the newest building athe Alexandria Life Science and Translational Research Center 9800 Medical Center Drive in Rockville (Courtesy of Alexandria Real Estate Equities Inc.)

Regenxbio Inc. will be the anchor tenant at the newest building athe Alexandria Life Science and Translational Research Center 9800 Medical Center Drive in Rockville (Courtesy of Alexandria Real Estate Equities Inc.)

Biotech firm Regenxbio Inc. plans to double its workforce and will receive assistance from Maryland and Montgomery County for its previously-announced headquarters expansion in Rockville.

Regenxbio is a clinical-stage biotechnology company specializing in gene therapy. The firm signed a 15-year lease in November for its new headquarters at the new building at the Alexandria Life Science and Translational Research Center.

“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 … production facility – in order to support the development and launch of (novel adeno-associated virus vectors) technology-based treatments,” Regenxbio President and CEO Kenneth T. Mills said in a statement. “We are fortunate to secure a new location that keeps us in Montgomery County and supports our continued evolution as a company.”

The firm will fully move into the new headquarters by 2020 and said it expects to double its workforce over the next five years, adding more than 150 jobs.

The Maryland Department of Commerce will provide the company a $700,000 conditional loan through Advantage Maryland. The firm could also receive a state Partnership for Workforce Quality grant to assist with training needs.

Montgomery County will provide Regenxbio with a $100,000 conditional grant and also said it will help expedite permits for the new location.

“Supporting innovative and growing companies like Regenxbio reinforces Maryland’s standing as a leading biotech cluster and a global hub for the development of cutting-edge treatments, diagnostics, and cures,”  Gov. Larry Hogan said. “Regenxbio’s decision to expand their headquarters in Rockville and add over 150 new jobs is a win for Montgomery County and our state.”

That job growth has been consistent for the biotech startup, noted Isaiah Leggett, who was Montgomery County executive while the deal was reached.

“Regenxbio has doubled its number of employees every 18 months since April of 2015,” Leggett said in a statement. “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.”

Regenxbio developed a proprietary platform called NAV Technology Platform. NAV Technology uses viral vectors to deliver genes to cells.

Using the NAV Technology Platform, Regenxbio can use the viral vectors to address genetic defects or enable cells to produce therapeutic proteins. The firm is developing five investigational gene therapies in retinal, metabolic and neurodegenerative diseases.

Companies with novel technologies such as Regenxbio form a backbone of Maryland’s startup ecosystem, especially along the Interstate 270 corridor in Montgomery County, state Commerce Secretary Mike Gill said.

“Maryland is the ideal place for growing biotech companies like Regenxbio,” Gill said in a statement. “In addition to a highly educated workforce, our state offers unique proximity to key federal agencies like the U.S. Food and Drug Administration and the National Institutes of Health and a critical mass of life sciences companies that make up one of the best places in the nation, if not the world, for innovative companies to thrive.”


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