Biotechnology Company Expands Headquarters in Gaithersburg, Plans 45 New Jobs
Altimmune, Inc. Will Relocate to a 14,000 Square-Foot Space in Montgomery County
ANNAPOLIS, MD – Altimmune, Inc, a clinical-stage immunotherapeutics biotechnology company, today announced it will relocate new employees acquired as a result of its merger with Pharmathene, as well as its existing Gaithersburg employees, to a new 14,000 square-foot location in Gaithersburg. The new, larger location at 910 Clopper Road, planned to be complete by the first quarter of 2018, will include the company’s research and development facility. Altimmune currently has 14 full-time employees in Gaithersburg, and as a result of the expansion, plans to add 45 new jobs over the next four years.
“Our move and expansion marks an important milestone in the company’s history and signals our continued commitment to building a fully-integrated and diversified immunotherapeutics company,” said Bill Enright, CEO of Altimmune. “Montgomery County is one of the most dynamic centers in the country for life sciences businesses, with a strong pool of experienced clinical development talent. As we advance our clinical programs, we see this location as strategic to our future growth.”
Altimmune designs and develops immunotherapeutic products tailored to address a wide range of diseases, including acute respiratory infections, chronic viral infections, and cancer, with the potential for fundamental advantages over competing products. The company’s lead product, NasoVAX, an intranasally administered recombinant flu vaccine, is expected to begin Phase 2 development in the coming weeks. HepTcell, the company’s second clinical program, is an immunotherapy for treating patients chronically infected with the Hepatitis B virus. The company’s two complementary fully government-sponsored anthrax vaccine programs, SparVax-L and NasoShield, are ongoing with continued updates and data announcements expected in 2018.
“Supporting the growth of companies like Altimmune helps reinforce Maryland’s leadership in the life sciences industry, and positions us as an ideal location for companies to develop innovative new treatments for diseases around the world,” said Governor Larry Hogan. “This expansion, along with the addition of 45 new jobs, is a win for Montgomery County and our state.”
“Montgomery County is unrivaled in our life sciences R&D assets,” said Montgomery County Executive Ike Leggett. “Altimmune will be in good company as part of our growing biohealth industry that is driven by the noble purpose of saving and improving lives.”
“We’re thrilled that Altimune will be expanding in Maryland, a move which demonstrates both the company’s commitment to Maryland and the state’s commitment to its partners in our thriving biohealth industry,” said Maryland Commerce Secretary Mike Gill. “Together, we’re working to advance cutting-edge research with the potential to save lives all over the world.”
“I’m pleased to report that in the six years Altimmune has been in Montgomery County, the company has enjoyed steady growth in employees, square footage and new business contracts,” says David Petr, president & CEO of Montgomery County Economic Development Corporation. “We welcome Altimmune to its new, 14,000 square foot headquarters in Gaithersburg as it continues to add jobs and build global R&D capabilities.”
To assist with project costs, the Maryland Department of Commerce has approved a $150,000 conditional loan through the Maryland Economic Development Assistance Authority and Fund (MEDAAF). In addition, Montgomery County is providing a $100,000 conditional grant through its Economic Development Fund. The company is also eligible for a grant up to $50,000 from the City of Gaithersburg’s Economic Development Toolbox Program, as well as various state and local tax credits, including Maryland’s Job Creation Tax Credit.
“Gaithersburg enjoys an excellent reputation as a hub for the biotechnology industry and we continue to foster growth within this sector with programs like our Economic Development Toolbox. We thank Altimmune for choosing to grow in our community,” said Gaithersburg Mayor Jud Ashman.