Argos Breaks Ground on Biomanufacturing Facility in Research Triangle Park Area
News Oct 30, 2014
Argos Therapeutics Inc. broke ground on a new 100,000 square foot biomanufacturing facility in the Research Triangle Park area in Durham, North Carolina. The facility may lead to more than 230 new jobs and will include advanced equipment for automated manufacturing of Arcelis-based products. Special guests at the ceremony included Bill Bell, Mayor of Durham, Bill Brian, Chairman Elect, Greater Durham Chamber of Commerce, and Michael Page, Chairman, Durham County Commission.
"We founded Argos in the Research Triangle Park area and I am glad that our new state of the art manufacturing facility will be right here in this rapidly growing global center for biomedical research," said Jeff Abbey, President and Chief Executive Officer of Argos. "Durham is the ideal location for us to attract the experienced talent we need to expand our operations as we continue the development of our Arcelis-based products."
Argos received approximately $9.5 million in incentives from the State of North Carolina, Durham County, the City of Durham, and the North Carolina Biotechnology Center for the development and implementation of the facility, which will support automated production of the company's Arcelis-based personalized immunotherapy product candidates for the treatment of cancer and infectious diseases. AGS-003, the company's lead oncology product candidate, is currently being evaluated in the pivotal ADAPT phase 3 clinical trial for the treatment of metastatic renal cell carcinoma (mRCC).
The incentive package from the North Carolina Department of Commerce to support the project totals $7.1 million, including a $4.5 million Job Development Investment Grant, $600,000 in education and on-the-job training assistance, a $1.8 million sales tax exemption on qualifying equipment, and a $200,000 Economic Development Award from the North Carolina Biotechnology Center. In addition to NC Commerce, the City of Durham and Durham County awarded an incentives package totaling $2.35 million including a cash grant of $1.85 million and $500,000 in on-the-job training assistance.
"Argos is a very important project to Durham," said William "Bill" Bell, Mayor, City of Durham. "I extend my congratulations not only for what this firm has done, but equally important for what Argos will do in the future for our community, its workforce and particularly for Argos developing new products that will help patients."
The Keith Corporation of Charlotte, N.C., will construct the facility on T.W. Alexander Drive in Durham.
"We are delighted to be working with Argos on this cutting edge project," said Kenneth Beuley, CFO and Director of Development for The Keith Corporation. "It will be our fifth development project along the T.W. Alexander corridor in Durham."
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