Company will open new manufacturing facility; plans to create 200 new jobs
BALTIMORE, MD (March 19, 2018) – The state of Maryland and the Anne Arundel County Economic Development Corp. (AAEDC) announced today their support of Paragon Bioservices’ new commercial manufacturing facility under development in Anne Arundel County and the addition of 200 new jobs over the next four years. Earlier this year, Paragon, a leading biologics contract development and manufacturing organization (CDMO) with expertise in gene therapy and next-generation vaccines, announced plans to lease 150,000 square feet in the BW Gateway development on Harmans Road.
The new facility will enable the company to expand its manufacturing operations, as well as house some of its administrative and business development activities which will move from the University of Maryland BioPark. The company is planning to retain its Baltimore City operations in the BioPark, as well as its 200 employees at that location.
The company is eligible for state tax credits including the state’s Job Creation Tax Credit and the More Jobs for Marylanders Program, which was the centerpiece of Governor Larry Hogan’s 2017 Maryland Jobs Initiative, incentivizing manufacturers to create new jobs in the state. Additionally, to assist with project costs, the Maryland Department of Commerce has approved a $600,000 conditional loan through the Maryland Economic Development Assistance Authority and Fund (MEDAAF), and AAEDC is providing $60,000 to aid the growth of Paragon’s workforce.
“The expansion of our biopharmaceutical manufacturing capabilities via our new site, including the ability for commercial manufacturing, is a key strategic initiative for Paragon,” said Pete Buzy, Paragon’s president and CEO. “Paragon is one of the few gene therapy manufacturers that has the expertise to develop and successfully manufacture complex biotherapeutics using commercially-scalable processes. We have become a center of excellence for both gene therapy and novel vaccine manufacturing and are trusted by top biopharmaceutical companies.”
A growing need for broad gene therapy manufacturing capacity from its current and future client base is driving the company’s investment in this new facility. As part of its commitment to clients, Paragon’s new facility will include several 500L and 2000L single-use bioreactors for clinical trial and eventually commercial material production, as well as additional research laboratory space for process optimization and scale up. Paragon expects the Harmans Road location to include commercial manufacturing capabilities in 18 to 24 months.
Paragon’s workforce has grown from 100 employees three years ago to more than 225 today, becoming one of Greater Baltimore region’s fastest-growing, privately-held biotechnology companies and one of the top private employers in Maryland. Last year, Paragon was named one of the fastest growing companies in the region by the Baltimore Business Journal.
“Our More Jobs for Marylanders program has been helping companies like Paragon Bioservices expand into different areas of our state and create good jobs for Maryland workers," said Governor Hogan. “This new location will enable the company to take their work with gene therapy to the next level of development, and we are excited to help them grow in Maryland.”
“We welcome Paragon Bioservices to Anne Arundel County’s growing biomedical industry,” said Anne Arundel County Executive Steve Schuh. “The company’s new location offers a number of benefits including close proximity to BWI-Marshall Airport and access to area transportation channels and partners. It is also an area where it can expand, and we look forward to seeing them grow and be a major job creator in our county.”
“Paragon Bioservices’ is one of a number of bio companies that has announced plans to grow in Maryland this year, a testament to our outstanding workforce, critical mass of life sciences companies, and supportive business climate,” said Maryland Commerce Secretary Mike Gill. “For more than 25 years, Paragon has been dedicated to advancing its gene therapy and vaccine manufacturing operations, and we are proud to support them as they continue to grow in our state.”
About Maryland Commerce
The Maryland Department of Commerce stimulates private investment and creates jobs by attracting new businesses, encouraging the expansion and retention of existing companies, and providing financial assistance to Maryland companies. The Department promotes the State's many economic advantages and markets local products and services at home and abroad to spur economic development and international investment, trade and tourism. Because they are major economic generators, the Department also supports the Arts, film production, sports and other special events. For more information, visit commerce.maryland.gov