ROCKVILLE, Md., July 28, 2020 (GLOBE NEWSWIRE) -- American Gene Technologies (AGT), an internationally recognized leading gene and cell therapy company in Rockville, Maryland, today announced it has leased a spacious, modern facility in the Maryland life sciences corridor, across from National Cancer Institute and Johns Hopkins Shady Grove Campus.
The new facility will support AGT's HIV Cure and immuno-oncology lead programs and provide greater capacity for additional product development. The move is expected to be completed by August 1st..
AGT’s decision to expand within the life sciences corridor comes after the accumulation of significant milestones in funding and product development including over $40 million in invested capital, the submission of an IND to the FDA for a human trial of its HIV Cure cell therapy candidate (read related press release), and over a dozen patents on fundamental innovations in the treatment of human diseases using gene and cell therapy technologies.
The 27,000 square-foot site in Rockville greatly expands and customizes AGT’s research laboratory space to rapidly advance a variety of gene and cell therapies toward the clinic in the next few years, including new treatments for infectious diseases, monogenic disorders, and cancers.
OUR NEW LOCATION
AGT’s new address will be 9713 Key West Ave., Suite 500, Rockville, MD 20850. The new facility is across the street from John’s Hopkins Shady Grove Campus and the NIH’s National Cancer Institute, and just miles from AstraZeneca. AGT’s new home is near the Universities of Shady Grove (a campus offering satellite programs from all Maryland’s top universities) which provides AGT with an educated workforce and the opportunity to recruit top talent to fulfill its mission and vision.
AGT’s new facility is a Class A office building complex adapted to serve the burgeoning Maryland biotech sector. The new building’s amenities include a fitness center and a café in the covered mall area which will include updated seating and art installations.
ABOUT AGT
American Gene Technologies (AGT) is a gene and cell therapy company with a proprietary gene-delivery platform for rapid development of cell and gene therapies to cure infectious diseases, cancers, and inherited disorders. The Company's mission is to transform people's lives through genetic medicines that rid the body of disease. The Company expects to take its patented lead candidate for an HIV cure to the clinic in 2020. AGT has an extensive patent and intellectual property portfolio that includes infectious disease, monogenic disorders, and cancer, including seven patents for its unique immuno-oncology approach to stimulate gamma-delta (γδ) T cells to destroy a variety of solid tumors. The Company has developed a synthetic gene for treating Phenylketonuria (PKU), a debilitating inherited disease. AGT's treatment for PKU has been granted Orphan Drug Designation by the Food and Drug Administration (FDA), and it is expected to reach the clinic in 2020.
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CONTACTS:
C. Neil Lyons, Chief Financial Officer
Phone: (301) 337-2269
Email: info@americangene.com
Sasha Whitaker, Digital Marketing and Communications
Phone: (301) 337-2100
Email: swhitaker@americangene.com
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/a51bcd4a-e690-4fd1-91e6-72cdea6a2e08
https://www.globenewswire.com/NewsRoom/AttachmentNg/b788af6b-9e22-42f0-83df-2541900fcc0d