{"id":2654,"date":"2024-02-21T07:47:31","date_gmt":"2024-02-21T07:47:31","guid":{"rendered":"https:\/\/www.commercialsearch.com\/blog\/?p=2654"},"modified":"2024-02-19T07:47:58","modified_gmt":"2024-02-19T07:47:58","slug":"3m-investment-new-cell-therapy-facility-in-rockville-md","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/blog\/3m-investment-new-cell-therapy-facility-in-rockville-md\/","title":{"rendered":"$3M Investment in New Cell Therapy Facility in Rockville, Md."},"content":{"rendered":"

Global biopharmaceutical company AstraZeneca announced an investment of $300 million to renovate and modernize an existing facility in order to create a cancer treatment manufacturing facility in Rockville, Md.<\/p>\n

Spanning more than 84,000 square meters, the facility will primarily focus on the production of cell therapies for critical cancer trials and future commercialization. Meanwhile, the adaptable design allows for future expansion into other areas of health care innovation, while the project itself is expected to create new jobs in the life sciences industry.<\/p>\n

\u201cWe are incredibly excited that more than 150 new highly skilled jobs are being created to bring our scientific work and therapies to clinical trials, which could transform the lives of patients around the world,\u201d said Pam Cheng, executive vice president of global operations & IT and chief sustainability officer at AstraZeneca. \u201cThis new $300 million investment will accelerate our ambition to make next-generation cell therapy a reality, ensuring that we are ready to scale and meet the demands of patients.\u201d<\/p>\n

The facility, located at 9950 Medical Center Drive, enjoys close proximity to AstraZeneca\u2019s Gaithersburg R&D center within a five-mile radius. Renowned academic institutions like the University of Maryland, Johns Hopkins University, and Montgomery College are also nearby, thereby fostering talent acquisition and collaboration.<\/p>\n

Maryland Governor, Wes Moore, highlighted the strategic partnership: \u201cAstraZeneca and the State of Maryland share a deep commitment to innovation. It makes us the perfect pairing for this next-generation cell therapy facility. This significant investment in our life sciences sector will help maintain Maryland\u2019s leadership in the industry and sharpen our competitive edge. We are deeply grateful for AstraZeneca\u2019s partnership and continued commitment to our state.\u201d<\/p>\n

The new Rockville facility is expected to be fully operational by 2026. The governor\u2019s office reports that AstraZeneca is seeking a $500,000 conditional loan for development costs from the Maryland Department of Commerce. Additionally, Montgomery County plans to contribute a $100,000 conditional loan through its Economic Development Fund.<\/p>\n

This initiative represents AstraZeneca\u2019s latest investment in cell therapy, building upon collaborations with companies like Quell Therapeutics, AbelZeta and Cellectis, as well as the acquisition of Neogene Therapeutics.<\/p>\n

Looking to rent research-ready office space in the Maryland<\/a> market or other fast-growing clusters? Select any of the markets linked below or visit the CommercialSearch<\/a> homepage to start your search.<\/em><\/p>\n\n\n\n\n\t\n\t\n\t\n\t\n\t\n\t\n\t
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Global biopharmaceutical company AstraZeneca announced an investment of $300 million to renovate and modernize an existing facility in order to create a cancer treatment manufacturing facility in Rockville, Md. Spanning more than 84,000 square meters, the facility will primarily focus on the production of cell therapies for critical cancer trials and future commercialization. Meanwhile, the adaptable design allows for future expansion into other areas of health care innovation, while the project itself is expected to create new jobs in the life sciences industry. \u201cWe are incredibly excited that more than 150 new highly skilled jobs are being created to bring…<\/p>\n","protected":false},"author":3163,"featured_media":1123,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-2654","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial-real-estate-news"],"acf":[],"yoast_head":"\nAstraZeneca Invests $3M in New Cell Therapy Facility in Rockville, Md.<\/title>\n<meta name=\"description\" content=\"At over 84,000 square meters, the facility will focus on producing cell therapies for crucial cancer trials and eventual 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