ROCKVILLE, MD. October 19th, 2005. MacroGenics, Inc. today announced the grand opening of its recently completed cGMP manufacturing facility located in Rockville, Maryland. The Company celebrated the grand opening with over 70 invited guests, including members of the Maryland state government and Montgomery County government, at a ribbon-cutting ceremony held earlier this week. The Honorable Jennie Forehand, of the Maryland State Senate, The Honorable Kumar P. Barve, Majority Leader, Maryland House of Delegates, and Mr. David Edgerley, Director of the Montgomery County Department of Economic Development were guest speakers at the event. Senator Forehand and David Edgerley also joined members of the MacroGenics senior management for the official ribbon-cutting.
Dr. Scott Koenig, President and CEO of MacroGenics, Inc. commented on the new facility, Our state-of-the-art manufacturing facility provides MacroGenics with the capacity to produce clinical-grade material and poises the Company for continued growth and success.
The manufacturing facility houses two large Wave bioreactors that enable MacroGenics to produce monoclonal antibodies under current Good Manufacturing Practice (cGMP) standards in 4,500 sq ft of clean rooms. The new site also provides the company with 10,000 sq ft of space for support laboratories and offices. In a remarkably short time, our team has completed facility renovations and brought our manufacturing capabilities online. The efforts of these dedicated employees have enabled us to begin manufacturing for clinical trials scheduled to begin in the spring of 2006, commented Dr. Kathryn Stein, Vice President of Product Development and Regulatory Affairs for MacroGenics.
MacroGenics currently employs 15 individuals at the Shady Grove manufacturing site in Montgomery County, Maryland and anticipates that by 2012, the number will grow to approximately 40. The Company further employs over 50 people at their corporate headquarters on East Gude Drive in Rockville, also located in Montgomery Countys biotech corridor.
We are very pleased to welcome MacroGenics to its new home in Montgomery County, said County Executive Douglas M. Duncan. The innovative, life-altering work MacroGenics is doing to help treat patients with cancer, autoimmune disorders and infectious diseases fits in perfectly with the dynamic and groundbreaking work being done throughout the county. I am confident MacroGenics will succeed in its work and help make Montgomery County the biotechnology capital of the world.
About MacroGenics, Inc.
Founded in 2000, MacroGenics is a private, venture-backed biotechnology company headquartered in Rockville, Maryland that focuses on the development, manufacture, and commercialization of immunotherapeutics for autoimmune disorders, cancer, and infectious diseases. The company has a CD3 monoclonal antibody for autoimmune diseases that is currently in Phase 2 development for type 1 diabetes. Its CD32 monoclonal antibody is in early-stage development for cancer, and allergy and autoimmune disorders. Together with its partner Genzyme, MacroGenics is also developing a CD16 monoclonal antibody and soluble Fc receptor fusion protein to treat antibody-mediated autoimmune diseases such as idiopathic thrombocytopenia purpura (ITP), lupus, and rheumatoid arthritis. The companys proprietary Fc engineering technology offers ways of improving antibody function, such as enhancing its ability to eliminate cancer cells or cells that contribute to autoimmune disorders. The Company is further developing a therapeutic monoclonal antibody and vaccine to treat and prevent West Nile virus.