January 8, 2021 -- Adverum Biotechnologies plans to build a new good manufacturing practice (GMP) gene therapy manufacturing facility in North Carolina to internalize its adeno-associated virus (AAV) manufacturing capabilities.
The company will invest over $80 million in the 174,000-sq-ft facility, located in Research Triangle Park. The site will house four 1,000-L bioreactors with space for further expansion. The site will create more than 200 jobs in the area and will be operational by the end of 2023.
Adverum will receive $9 million in state and local incentives to expand into North Carolina, including a job development investment grant, which provides $3 million over 12 years.
Adverum is a clinical-stage gene therapy company. Its lead candidate, ADVM-022, is a one-time intravitreal injection for the treatment of patients with wet age-related macular degeneration and diabetic macular edema.