Human Genome Sciences to purchase new research and manufacturing facility in Rockville, Maryland
State of the Art Facility Will Permit Rapid Expansion of Antibody Discovery and Protein Formulation Technology
Human Genome Sciences, Inc. announced that the company has entered into an agreement to purchase a state of the art research and manufacturing facility in Rockville, Maryland, for $55 million. The facility consists of an 18-acre site with three buildings totaling 240,000 square feet of research and development labs and offices. It is currently owned and occupied by Invitrogen-Life Science Technologies, of San Diego, California, which will be vacating the premises. The facility is located less than one mile from the existing HGS research campus and is adjacent to a 55-acre green field lot, called the Traville site, that HGS has contracted to purchase for future expansion.
Montgomery County Executive Douglas Duncan said, "Human Genome Sciences is a major player in the international bioscience community and I am proud that their worldwide headquarters is located in Montgomery County, Maryland. The deal announced today is a win-win for Human Genome Sciences and Montgomery County -- Human Genome Sciences is able to meet its ever increasing space needs and Montgomery County ensures that quality life science lab and office space is utilized. In conjunction with their plans for a new research and development campus on the nearby Traville site, Human Genome Sciences continues to expand its important work and presence here in Montgomery County."
William Haseltine, PhD, Chairman and Chief Executive Officer of Human Genome Sciences, Inc., said, "We are fortunate to be able to purchase a fully equipped research and manufacturing facility so close to our current campus and adjacent to the land we plan to use for expansion and consolidation of our future research and management headquarters. Moreover, the new facility is located only about a half mile from our manufacturing campus as well."
Dr. Haseltine continued, "These facilities will permit Human Genome Sciences to execute our plans to expand our antibody drug discovery and development activities, to relocate Principia, a company we recently purchased, to Rockville and to expand new activities of this group as well. The facilities also will allow us to expand our cGMP manufacturing capabilities, to support additional near term Phase I and Phase II clinical trials."
Craig Rosen, PhD, Executive Vice President of Research and Development of HGS, said, "The new 240,000 square foot facility will permit Human Genome Sciences to execute our plan to become a major force in the creation and development of an important new class of drug, human monoclonal antibodies. Over the past year we have acquired the intellectual property rights and the scientific expertise to develop antibody drugs ourselves. We now have the space to grow the antibody discovery and development group rapidly."
Dr. Rosen continued, "Over the past year, Human Genome Sciences also has acquired critical technology to prepare new and improved versions of existing biopharmaceutical products such as Interferon and Growth Hormone. These new products are created by fusion to the human albumin protein. We expect that these new products should last much longer in the human body and consequently require smaller doses at far less frequent intervals than are now required. The new facility will permit us to expand the research and development team devoted to creation of these products."
Steven Mayer, Senior Vice President and Chief Financial Officer of HGS, said, "The acquisition of the new building is a windfall for our company. We have been looking for new space in the area to support our rapid expansion in research and development as well as in manufacturing capabilities. We have already committed ourselves to create a new research campus on the 55-acre Traville site. To find a completed, fully equipped, large research and manufacturing building immediately adjacent to our planned expansion campus presented an excellent opportunity for us. We were very pleased to be able to take advantage of it. The addition of this facility increases the attractiveness of the Traville site."
Scheer Partners, Inc., of Rockville Maryland, acted as sales advisor and broker on the transaction.
HGS currently occupies approximately 429,000 square feet of manufacturing, laboratory and office space in eight buildings in Rockville.
Human Genome Sciences is a company with the mission to treat and cure disease by bringing new gene-based drugs to patients.
HGS and Human Genome Sciences are registered trademarks of Human Genome Sciences, Inc. For additional information on Human Genome Sciences, Inc., visit the company's web site at www.hgsi.com. Copies of HGS press releases are also available by fax 24 hours a day at no charge by calling 800/758-5804, ext. 121115.
Source: Human Genome Sciences