GAITHERSBURG, Md., Nov. 16 /PRNewswire-FirstCall/ -- MedImmune, Inc. announced today its decision to expand the company’s biologics manufacturing capacity by building a new facility adjacent to its current site in Frederick, Maryland. The build-out of the Frederick site, in addition to the ongoing expansion of MedImmune’s corporate headquarters facility in Gaithersburg, Maryland, may result in up to 840 new jobs in the state by 2008.
“MedImmune is committed to strengthening its presence in the region’s biotechnology corridor,” said Randall Turner, vice president, engineering and facilities. “Our current manufacturing site in Frederick thrives because of the abundance of resources and talent that is available to MedImmune through the support of local and state government and educational institutions in the area. We look forward to increasing our manufacturing capabilities as we seek to deliver new medicines to the market that may one day improve and protect human lives.”
“MedImmune’s expansion is a tremendous win for both the county and the state. It’s another example that our statewide biotech strategy to invest in and promote our biotechnology industry is working,” said Governor Robert L. Ehrlich, Jr. “This expansion, which is targeted to bring more than 800 highly skilled jobs to Frederick and Montgomery counties, is also a testament to the depth of our technical and professional workforce, supportive business environment and world-class public and private sector research centers.”
The construction costs associated with the first phase of the proposed Frederick expansion are estimated to be approximately $250 million. It will provide two additional commercial-scale bioreactors used to manufacture monoclonal antibodies (MAbs), and will also include 331,000 square feet of office, laboratory and manufacturing space to accommodate up to 225 additional employees. Phase 1, expected to be complete in late 2009, is the first of four phases of potential expansion at the Frederick facility. The remaining phases will include approximately 379,000 square feet of additional space. MedImmune, the City of Frederick Department of Economic Development and the Frederick County Office of Economic Development are working together to determine the infrastructure necessary to support the tiered expansion at the Frederick plant.
“The Frederick County Commissioners and the Office of Economic Development have been pleased to work with the team from MedImmune, DBED and the City of Frederick to plan for this significant expansion. Frederick continues to strengthen our position in the technology community of our region. This will mean more good jobs for our citizens,” said Marie Keegin, director of economic development for Frederick County.
“We are very excited that the hard work has paid off. We are pleased that MedImmune has committed itself to expanding in Frederick and we are pleased that the state, county, and city were able to work collaboratively to make this expansion possible,” said Mayor Jennifer P. Dougherty, The City of Frederick.
“MedImmune is a valuable member of the City of Frederick’s corporate hi- tech community and this expansion solidifies Frederick’s position as the northern anchor of the I-270 Tech Corridor,” said Richard G. Griffin, director of economic development, The City of Frederick.
The existing biologics manufacturing plant in Frederick currently produces Synagis(R) (palivizumab). The proposed expansion will increase MedImmune’s production capacity for Synagis; its potential next-generation product, Numax(TM) (motavizumab); and other MAbs in the company’s pipeline, pending their approval by the U.S. Food and Drug Administration.
In March 2004, MedImmune moved into its state-of-the-art research and development facility and corporate headquarters in Gaithersburg. Ongoing construction has been underway at that facility, notably the building of a new pilot lab and an additional office tower, both scheduled for completion in the second half of 2006.
About MedImmune, Inc.
MedImmune strives to provide better medicines to patients, new medical options for physicians, rewarding careers to employees, and increased value to shareholders. Dedicated to advancing science and medicine to help people live better lives, the company is focused on the areas of infectious diseases, cancer and inflammatory diseases. With more than 2,000 employees worldwide, MedImmune is headquartered in Maryland. For more information, visit the company’s website at http://www.medimmune.com.
This announcement contains, in addition to historical information, certain “forward-looking statements” regarding MedImmune. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change current expectations and could cause actual outcomes and results to differ materially from current expectations. In addition to risks and uncertainties disclosed in MedImmune’s filings with the U.S. Securities and Exchange Commission, construction of new facility space for manufacturing of biological products is inherently risky and may encounter unexpected delays and setbacks. For example, MedImmune can provide no assurance that the proposed construction of the facility will occur on the timeline expected or that the facility will receive regulatory approval for the manufacture of MedImmune’s biological products. In addition, MedImmune can provide no assurance that it will have sufficient manufacturing need to fully utilize the manufacturing capacity of the expanded facility or that the projected number of new jobs will be created. MedImmune undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise except as may be required by applicable law or regulation.
MedImmune, Inc.
CONTACT: Media: Clarencia Stephen, +1-301-398-4073 or Jamie Lacey,+1-301-398-4035; Investors: Peter Vozzo, +1-301-398-4358 or John Filler,+1-301-398-4086, all of MedImmune, Inc.
Web site: http://www.medimmune.com/
