Adverum Biotechnologies, Inc. Announces New GMP Gene Therapy Manufacturing Facility
January 07, 2021 at 04:57 pm
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Adverum Biotechnologies, Inc. announced plans for a new Good Manufacturing Practices facility in Durham, North Carolina. Adverum will invest over $80 million in the 174,000-square-foot facility, located in Research Triangle Park. The site will include four 1,000-liter bioreactors, with space for future expansion and will create more than 200 jobs. Adverum will be receiving up to $9 million in state and local incentives as it expands into North Carolina, including a Job Development Investment Grant (JDIG), which will provide up to $3 million in funding over 12 years and was approved by the state’s Economic Investment Committee today. Additionally, Adverum will receive a training grant of over $400,000 and an estimated $6 million from local and other incentives. Multiple organizations were instrumental in facilitating Adverum’s entry into North Carolina, including North Carolina Department of Commerce, Economic Development Partnership of North Carolina, North Carolina General Assembly, Durham County, Greater Durham Chamber of Commerce, North Carolina Community College System, North Carolina Biotechnology Center, and Duke Energy.
Adverum Biotechnologies, Inc. is a clinical-stage gene therapy company. The Company discovers and develops gene therapy product candidates that provides durable efficacy by inducing sustained expression of a therapeutic protein. Its lead product candidate, ixoberogene soroparvovec (Ixo-vec), is a single, in-office intravitreal (IVT) injection gene therapy product designed to deliver long-term durable levels of aflibercept associated with a sustained treatment response, reducing the treatment burden and fluctuations in macular fluid associated with frequent anti-vascular endothelial growth factor (VEGF) IVT injections. Ixo-vec is being developed for the treatment of patients with wet age-related macular degeneration. Its second product candidate, ADVM-062 (AAV.7m8-L-opsin), is a gene therapy product candidate being developed to treat patients suffering from blue cone monochromacy (BCM) via a single IVT injection. It also developing an early-stage pipeline of gene therapy programs.
ADVERUM BIOTECHNOLOGIES, INC. 
