Biotechnology company consolidates operations in business community and expects to employ over 50 engineers, scientists, quality-control professionals, and related positions
FREDERICK, Md., March 20, 2024 /PRNewswire-PRWeb/ -- BioFactura, Inc. has signed a lease with St. John Properties, Inc. for 12,000 square feet of space at Riverside Tech Park, a 70-acre business community located in Frederick, Maryland. The biotechnology firm has occupied 5,520 square feet of space at 8435 Progress Drive in Riverside Technology Park since 2015 and this new requirement expands the company's presence to 17,520 square feet of space within the building. Danny Foit, Leasing Representative for St. John Properties represented the landlord.
The biotechnology and life sciences group was awarded a $78 million contract from the Biomedical Advanced Research and Development Authority (BARDA) for the advanced development of the company's Smallpox Biodefense Therapeutic. BioFactura's product has the potential to prepare, augment current countermeasures and guard against a possible smallpox breakout on a global scale. More than 50 engineers, scientists, biologic manufacturing specialists, regulatory compliance and quality control, and clinical trial professionals are expected to work in the new facility, which will open this fall.
According to Dr. Jeffrey Hausfeld, BioFactura's Chairman of the Board and Chief Medical Officer, the expansion space was needed to perform additional product development, optimize processes, manufacture clinical drugs, and develop and validate assays needed for human use. The additional space will allow the company to expand its scope to manufacture Phase II materials for clinical trials.
BioFactura was originally established in Rockville, Maryland in 2003, according to Dr. Hausfeld, "to leverage the outstanding life sciences talent produced by local universities such as Johns Hopkins University, Georgetown University, George Washington University, and the University of Maryland, among others."
In 2013, the company relocated to Frederick with an initial residency at the Frederick Innovative Technology Center, Inc. or FITCI, the region's premier biotech incubator. BioFactura relocated in 2015 with the initial 5,520 square foot facility at Riverside Tech Park.
"Riverside Tech Park is a well-designed and strategically-located business community," Dr. Hausfeld added. "The I-270 corridor is ranked in the top five places nationally for the recruitment of life sciences talent, and that played a major role in our original decision to move to Frederick. The region provides an affordable lifestyle with considerably less congestion than a building located closer to Washington, D.C. As a manufacturer and distributor of pharmaceuticals, the building's flexible layout, including rear loading capabilities, perfectly suits our needs. Consolidating our operations into one building will improve overall efficiencies and communication."
"We are extremely pleased to continue and extend our relationship with St. John Properties," stated Dr. Darryl Sampey, BioFactura's President, and CEO. "The design and layout of 8435 Progress Drive has allowed us to establish and maintain our Good Manufacturing Practice standards, which has contributed immensely to the success, growth and value of our company."
8435 Progress Drive is a single-story building comprising 84,240 square feet of flex/R&D space. It is equipped with 16-foot clear ceiling heights, dock and drive-in loading capability, and free onsite parking.
Riverside Tech Park is located adjacent to the National Cancer Institute and Frederick National Lab for Cancer Research, two miles from I-70 and Fort Detrick (home to U.S Army Medical Research and Development Command); three miles from I-270 and the recently expanded Frederick Municipal Airport (considered the second busiest general aviation airport in Maryland); 35 miles from the U.S. National Institutes of Health (NIH); 40 miles from Washington, D.C. and Baltimore, and within an hour's drive to Dulles International, Baltimore-Washington International, and Reagan National Airports.
According to the Frederick County Office of Economic Development (OED), more than 80 biotechnology and life science companies are situated within the I-270 Technology Corridor, including the National Cancer Institute (NCI) and Fort Detrick, which is recognized as a leading medical research center for the U.S. Biological Defense Research Program. Statistics published by the OED indicate that Frederick is the number one area in the country for NIH Research and Development contract awards, professional and technical workers, and concentration of employed doctoral scientists. According to the OED "Maryland is located within a two-hour drive from 80% of the United States pharmaceutical industry."
"We appreciate the opportunity to serve the BioFactura team's real estate needs for its latest expansion at Riverside Tech Park," stated Matt Holbrook, St. John Properties' Regional Partner, Virginia and Central Maryland. "Life science and bioscience companies are leading economic drivers in Frederick and throughout the I-270 Corridor, and we are grateful to have these groups in our Central Maryland portfolio, taking advantage of the strategic location of our business communities and access to a highly-trained and experienced workforce. Our Frederick-area portfolio is experiencing strong growth, and this momentum provides us continued confidence to speculatively develop additional best-in-class and highly-flexible buildings to meet the demand of this industry sector."
Founded in 1971, St. John Properties, Inc. is one of the nation's largest and most successful privately held commercial real estate firms. The company is distinguished by its commitment to customer service, achievements in green building, and top-rated workplace culture. Throughout St. John Properties' 53-year history, the company has developed more than 24 million square feet of flex/R&D, office, retail, and warehouse space, and has investments in over 3,000 residential units. The company proudly serves more than 2,600 clients in Colorado, Florida, Louisiana, Maryland, Nevada, North Carolina, Pennsylvania, Texas, Virginia, Utah, and Wisconsin. For more information about the company, visit http://www.sjpi.com.
BioFactura develops and manufactures high-value biosimilars (i.e., follow-on biologics or generic biopharmaceuticals), biodefense medical countermeasures, and first-in-class novel drugs using its patented StableFastTM Biomanufacturing Platform, the optimal choice for bringing these drugs to market with faster, lower cost, superior-quality manufacture. For over 15 years, BioFactura has been advancing life-saving medicines from the research bench to the patient using its innovative drug and vaccine development and manufacturing technologies. Current and past programs include biodefense drugs against smallpox and Ebola, novel medicines for cancer, and low-cost/high-quality biosimilars for autoimmune and infectious diseases. For more information about the company, visit http://www.biofactura.com.
Media Contact
Jeffrey Hausfeld, BioFactura, 301-315-8002, [email protected], https://www.biofactura.com/
SOURCE BioFactura
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