NC: New Gene Therapy Facility to Create 200 New Jobs in Durham
28 Dec, 2020
Taysha Gene Therapies, Inc. (Nasdaq: TSHA), a patient-centric gene therapy company, has selected Durham as a site for its gene therapy manufacturing facility, Governor Roy Cooper announced. The site is expected to create approximately 200 jobs over the next two and a half years.
The Research Triangle area project confirms North Carolina’s growing role in gene therapy, a promising approach for fighting a host of challenging genetic diseases.
"The pandemic has highlighted the importance of science and innovation to keep us healthy,” said Governor Cooper. “Companies like Taysha Gene Therapies continue to expand in North Carolina because we have the scientists, skilled workers and climate for innovation they need to tackle health care’s toughest challenges.”
Taysha Gene Therapies, headquartered in Dallas, is developing an extensive portfolio of gene therapies. In Durham, the company plans to invest $75 million to build an approximately 187,000 square foot, commercial-scale manufacturing facility for preclinical, clinical, and commercial production of its gene therapy product candidates.
“North Carolina has a thriving life sciences ecosystem with significant expertise in gene therapy manufacturing, and we are delighted to establish our manufacturing center in Durham,” said RA Session II, President, Founder and CEO of Taysha.
“North Carolina continues to lead the way into new frontiers of medicine,” said Commerce Secretary Anthony M. Copeland. “Taysha Gene Therapies joins the nation’s most vibrant center for the life science industry, and I look forward to seeing their contributions add to the stellar reputation of North Carolina’s Research Triangle region.”
Over the course of the 12-year term of the company's JDIG grant, the project is estimated to grow the state’s economy by $772 million. The project will bring an annual payroll impact in excess of $22 million for the region.
The JDIG agreement authorizes the potential reimbursement to the company of up to $4.8 million, dependent upon meeting hiring and capital expenditure milestones. As much as $1,626,750 could also go into the state’s Industrial Development Fund - Utility Account for use by rural communities elsewhere in the state.
Partnering with the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina on this project were the North Carolina General Assembly, the North Carolina Community College System, the North Carolina Biotechnology Center, Duke Energy, Durham County, and the Greater Durham Chamber of Commerce.
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