Creating 70 new jobs and investing $10 million in Wake County
RALEIGH, N.C. – January 23, 2017 – Wake County Economic Development (WCED), North Carolina State University (N.C. State), the City of Raleigh Office of Economic Development and the Economic Development Partnership of N.C. (EDPNC) today announced that Argos Therapeutics, Inc. (Nasdaq: ARGS), a biopharmaceutical company focused on the development and commercialization of fully personalized immunotherapies for the treatment of cancer and infectious diseases using its Arcelis® technology platform, is expanding its Research Triangle headquarters by 40,000-square-feet on N.C. State’s Centennial Campus at the Keystone CTI Building. The expansion will create 70 new jobs and invest $10 million in Wake County over the next few years.
“In our role of facilitating economic development, we applaud the commitment Argos is making to extend its research partnerships and North Carolina roots to Centennial Campus,” said Dr. Alan Rebar, Vice Chancellor of Research, Innovation and Economic Development, at North Carolina State University. “We are excited that Argos has chosen CTI as it seeks to develop and commercialize cutting-edge immunotherapies for people with serious illnesses and look forward to a productive partnership.”
The Centennial Campus facility will focus mostly on production, with a research and development component. A major driver for the expansion on Centennial Campus is the proximity to globally recognized assets including the FREEDM Systems Center, the N.C. State Biomanufacturing Training and Education Center (BTEC), and N.C. State’s College of Veterinary Medicine, among others.
“Securing a lease for the CTI facility is a critical step on our path towards becoming a fully-integrated commercial-stage biotechnology company,” said Jeff Abbey, president and chief executive officer of Argos. “Our two-stage manufacturing strategy positions us to employ an established and proven-effective manual manufacturing process at CTI with the capacity to support approximately 1,800 patients per year at launch, with expansion capacity to 2,400 patients per year, pending regulatory approval. This strategy optimizes capital utilization as we prepare for a BLA submission for rocapuldencel-T and also allows us to assess early commercial uptake and better project capacity requirements for our planned 125,000 square foot Centerpoint facility in Durham, NC, which can be designed to accommodate our automated manufacturing process.”
“Wake County and the Research Triangle region’s role as a global leader in life sciences is evidenced by Argos Therapeutics’ continued expansion,” said WCED Executive Director Adrienne Cole. “This is an example of true collaboration between our three tier-one research universities and regional economic development partners to support a groundbreaking company like Argos, which is developing new treatments for people living with cancer, HIV and other serious illnesses.”
Key partners on the project include BTEC, CBRE, the Golden LEAF Foundation, Keystone Corporation, the N.C. Biotech Center, the N.C. Central University Biomanufacturing Research Institute and Technology Enterprise (BRITE) and N.C. State.
About Argos Therapeutics
Argos Therapeutics is a biopharmaceutical company focused on the development and commercialization of fully personalized immunotherapies for the treatment of cancer and infectious diseases using its Arcelis ® technology platform. Argos' most advanced product candidate, AGS-003, is being evaluated in the pivotal ADAPT phase 3 clinical trial for the treatment of metastatic renal cell carcinoma (mRCC). The Company is also developing a second Arcelis-based product candidate, AGS-004, for the treatment of HIV, currently being evaluated in a phase 2 clinical trial. For more information about Argos Therapeutics, visit www.argostherapeutics.com.
About Wake County Economic Development (WCED)
Wake County Economic Development (WCED), a program of the Greater Raleigh Chamber of Commerce, is the primary economic development organization for Wake County providing economic development support for its 12 municipalities. WCED hosts clients evaluating Wake County for possible facility locations each year and facilitates corporate expansions, resulting in new jobs and capital investment for Raleigh and Wake County. For more information about WCED, visit www.raleigh-wake.org.