The state of Maryland and Montgomery County have announced support for the expansion of REGENXBIO Inc., a leading clinical-stage biotechnology company specializing in gene therapy.
The company announced plans to move into a new 132,000-square-foot headquarters and research and development facility at the Alexandria Life Science and Translational Research Center in Rockville by 2020. With the expansion, the company, which currently has more than 150 employees, expects to double its workforce within five years.
To assist with the project, Maryland Commerce has approved a $700,000 conditional loan through Advantage Maryland, and Montgomery County has approved a $100,000 conditional grant and will assist with expediting permits for the new location.
REGENXBIO has developed a proprietary gene therapy deliver platform called the NAV® Technology Platform, which is designed to use viral vectors to deliver genes to cells in order to address genetic defects or enable cells in the body to produce therapeutic proteins that can positively impact ongoing disease.
“REGENXBIO has doubled its number of employees every 18 months since April 2015,” said Montgomery County Executive Isiah Leggett. “The company has an extraordinary record of scientific and corporate achievements, and we are excited that it will occupy a new building in the Shady Grove Life Science Center.”