October 6, 2014
By Krystle Vermes, BioSpace.com Breaking News Staff
Argos Therapeutics, Inc. , a global biopharmaceutical company, announced on Oct. 3 that it may hire around 236 additional staff members to accommodate its new North Carolina facility. In addition, the company will receive $9.5 million in incentives, as well as planning support, from the State of North Carolina, Durham County, the City of Durham, and the North Carolina Biotechnology Center.
“Argos was initially formed based on groundbreaking research conducted at Duke University and has experienced significant growth in Durham over the past decade,” said Jeff Abbey, President and Chief Executive Officer of Argos. “We are pleased to be expanding our operations here with the construction of our new automated manufacturing facility which we believe is critical to the successful commercialization of personalized immunotherapies such as AGS-003. Support for this project is a great example showing how our leaders in state, city and county government are committed to job growth and to enhancing North Carolina’s position as a leader in biotechnology.”
The state-of-the-art biomanufacturing facility is slated to take up nearly 100,000 square feet at Research Triangle Park. It will support the development of drugs using Argos’Arcelis technology platform. The platform is used to assist with fully personalized immunotherapies for the treatment of cancer and infectious diseases.
“Argos’ cutting edge work in personalized immunotherapy may lead to new treatments for people living with cancer, HIV and other serious illnesses,” said Pat McCrory, Governor of the State of North Carolina. “It is exciting to see this biopharma company continue to grow in North Carolina. We want to help more companies like Argos bring innovative new therapies and technologies to the commercial market.”
The incentive package from the North Carolina Department of Commerce to support Argos’ projects is worth about $7.1 million. Approximately $600,000 will be put toward education for on-the-job training assistance, and there is also a $1.8 million sales tax exemption on qualifying medical equipment.
“I am excited to see Argos grow in Durham and I am particularly excited, as are my fellow commissioners, that the company plans to create 236 new jobs and keep 100 existing jobs, offering a broad range of employment opportunities for all segments of Durham’s workforce,” said Michael Page, Chairman of the Durham County Board of Commissioners.
The new facility will support the development of AGS-003, Argos’ lead oncology candidate geared toward the treatment of metastatic renal cell carcinoma.
