Paragon Bioservices has plans to expand to new space over the next two years to help companies develop and manufacture biopharmaceuticals.
The company said Tuesday it is planning to add 10,000 sq. ft. to its current space at the University of Maryland BioPark in Baltimore. The offices are located at 801 W. Baltimore St.
The expansion is also stretching beyond the city. Additionally, Paragon will open a 150,000 sq. ft. facility near BWI in Anne Arundel County. The space will have more room for manufacturing and research lab space. Initial manufacturing capabilities are expected to be up and running in the fourth quarter of this year.
Paragon Biopharmaceuticals has expertise in helping development of new gene therapy, as well as what it calls “next-generation vaccines.” It helps pharmaceutical companies move through trials and scale production of new treatments. The 30-year-old company’s recent growth came following a $13 million Series A in 2014, which was backed by Baltimore-based private equity firm Camden Partners and Radnor, Pa.–based NewSpring Capital.
“This expansion is in response to the company’s current world-class client base requesting additional pre-clinical and commercial capacity,” Pete Buzy, who became CEO of the company in 2016, said in a statement. “We look forward to partnering with our clients and bringing lifesaving gene therapy medicines to the clinic and beyond for patients in need.”
The company has grown from 100 to 225 employees at the Baltimore location. With the expansion, it expects another 200 jobs to be added over the next three years.
This is the latest expansion for a BioPark firm that will involve a move outside the city announced in recent months. VAYA Pharma relocated to Columbia last year, and Noxilizer announced its own move to Anne Arundel County earlier this month.
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