VA: Biotech Company Aditxt To Build Richmond Facility, Create 300+ Jobs
4 May, 2021
Virginia Gov. Ralph Northam announced that Aditxt (Aditx Therapeutics, Inc.) (Nasdaq: ADTX), a biotech innovation company focused on improving the health of the immune system, will establish its first high-capacity AditxtScore™ Center in the City of Richmond in the second half of 2021. Aditxt plans to create more than 300 new jobs and targets making a capital investment of $31.5 million over three years to scale up its state-of-the-art immune monitoring center, including projected new jobs, laboratory equipment, and construction. Governor Northam and company officials announced the project during an event at the Virginia Bio+Tech Park, a campus of Activation Capital, where the company will occupy 25,000 square feet of Bio+Tech 8 with plans for future expansion.
“The Richmond region has emerged as a hub for cutting-edge biotech companies, and this thriving industry will be bolstered by the addition of Aditxt’s Immune Monitoring Center,” said Governor Northam. “The Virginia Bio+Tech Park is an ideal location for the company to continue its groundbreaking work to improve the health of our communities and help us better understand our own immune systems—something that has become extremely important over the past year. We are honored to welcome Aditxt to the Commonwealth, and we thank the company for creating more than 300 well-paid jobs for the people of Virginia.”
AditxtScore™ is pioneering a new approach to immune health monitoring that will provide a personalized profile of the immune system. By assessing an individual’s immune biomarkers, AditxtScore™ is able to measure indications of immunity to specific disease. AditxtScore™ applications include the recently commercialized AditxtScore™ for COVID-19, developed for use in detecting antibodies and neutralizing antibodies against SARS-CoV-2 antigens.
Since going public in June 2020, Aditxt has moved aggressively to fulfill its mission to prolong life and enhance quality of life by improving the health of the immune system. Alongside AditxtScore™, the company is developing the AditxtReprogramming™ therapeutic platform which is currently in a pre-clinical stage and is designed to retrain the immune system to induce tolerance with an objective of addressing rejection of transplanted organs, autoimmune diseases, and allergies. Aditxt expects to initiate clinical studies in patients by the end of 2021.
“Aditxt has the potential to significantly improve human health and longevity, and we are proud to welcome this innovative company to the Commonwealth,” said Secretary of Commerce and Trade Brian Ball. “Greater Richmond offers world-class education institutions, research assets, and a pipeline of skilled talent that will support Aditxt’s mission, and we look forward to working with the company as it grows in Virginia.”
“Richmond is an ideal location for our first high-capacity AditxtScore™ Center given its skilled workforce, location, and infrastructure,” said Amro Albanna, Co-founder and CEO of Aditxt. “As we begin rolling out the AditxtScore™ platform and applications for immune monitoring, the establishment of an AditxtScore™ Immune Monitoring Network is vital to realizing our full vision for AditxtScore™, which is to transform immune diagnosis from reactive testing to proactive monitoring. We look forward to working with the community to complete this important step in the execution of Aditxt’s strategic plan, and we are grateful to the Commonwealth of Virginia, Governor Northam, his team, and all involved for their support and welcoming reception.”
The Virginia Economic Development Partnership (VEDP) worked with the City of Richmond and the Virginia Bio+Tech Park to secure the project for the Commonwealth. Governor Northam approved a $1.3 million grant from the Commonwealth’s Opportunity Fund to assist the City of Richmond with the project. Aditxt is eligible to receive state benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development, and a Research and Development Expenses Tax Credit for qualifying research and development expenses.
Support for Aditxt’s job creation will be provided through the Virginia Talent Accelerator Program, a workforce initiative created by VEDP in collaboration with the Virginia Community College System and other higher education partners, with funding support from the Northam Administration and the Virginia General Assembly. Launched in 2019, the program accelerates new facility start-ups through the direct delivery of recruitment and training services that are fully customized to a company’s unique products, processes, equipment, standards, and culture. All program services are provided at no cost to qualified new and expanding companies as an incentive for job creation.
“Life science innovation is a growing industry in Richmond, and we continue to get better with the addition of Aditxt,” said Mayor Levar Stoney. “The company’s anticipated investment into the City of Richmond and the potential 300 plus new jobs created will absolutely have a positive impact on the city’s economic growth. Equally important, the work the company does will have a far-reaching impact, advancing the health of our community and others around the world. Richmond is proud to be part of these advancements as home to Aditxt’s first high-capacity AditxtScore™ Center.”
“Aditxt choosing to locate its operations in downtown Richmond within the Virginia Bio+Tech Park is a signal that central Virginia has the talent, infrastructure, and resources needed for supporting life sciences companies,” said Chandra Briggman, President and CEO of Activation Capital and the Virginia Bio+Tech Park. “This announcement is significant for Richmond and the Commonwealth, and we are looking forward to welcoming Aditxt to our innovation ecosystem.”
“I am pleased that Richmond has been selected as home to Aditxt’s first immune monitoring center,” said Congressman A. Donald McEachin. “Today’s announcement is not only a testament to Virginia’s talented workforce and rich capacity for innovation, but it also exemplifies the power of public-private partnership in the Commonwealth to serve the greater good while creating well-paid jobs and expanding opportunities throughout all of our communities. I look forward to seeing Aditxt grow and prosper here in Virginia’s fourth congressional district.”
“The potential creation of over 300 high-quality jobs and an expected multi-million dollar investment in our city is an exciting opportunity for Richmond,” said Senator Jennifer McClellan. “The AditxtScore™ Center will complement our expanding biotechnology and life science industry and our growing skilled workforce pipeline. I am looking forward to seeing the success of Aditxt in continuing the economic growth of our community.”
“I am happy to welcome Aditxt to the City of Richmond,” said Delegate Jeff Bourne. “The company’s work in the life sciences field underscores Richmond’s status as a growing city for innovation and investment. I am proud that Aditxt chose to call Richmond home.”
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