Regenerative Medicine leader to expand space and employees in
Massachusetts, encompassing over 250,000 square feet for new global
CANTON, Mass., April 3, 2008 /PRNewswire/ -- Joined by local officials and Organogenesis, Inc.'s CEO Geoff MacKay, Governor Deval Patrick announced today that the Massachusetts-based company, which was once planning to move its operations outside of the state, is initiating an expansion of its global headquarters, R&D and manufacturing facilities in Canton.
The Governor's $1 billion Life Sciences Initiative was credited by Organogenesis, the world's leading regenerative medicine company, as a deciding factor in the company's decision to remain and expand in Massachusetts and thereby add hundreds of highly skilled jobs.
"I am pleased that Organogenesis will continue to build its future here in Massachusetts," said Governor Patrick, "This announcement speaks to our commitment to the long-term growth of this industry."
The Massachusetts Office of Business Development worked closely with Organogenesis to create a $12.9 million incentive package. In addition, the state has facilitated $5 million in low-interest loans for growth initiatives. The Life Sciences Initiative bill also addresses tax inequalities when compared with competing states.
"When we first began speaking to the office of Economic Development early last year, Organogenesis had 200 employees, and today, we have 325 with open positions for an additional 50 jobs in 2008 -- all of these being high-skilled positions," said Organogenesis CEO Geoff MacKay. "Driven by both existing high revenue growth and major regulatory approvals, we are well on target for doubling our workforce."
"Governor Patrick, Secretary O'Connell as well as House and Senate leadership, have made a significant commitment to the life sciences sector and we are pleased to see their efforts coming to fruition," continued MacKay. "The Life Sciences Initiative bill solidifies the state of Massachusetts as the best place in the world to translate potentially life saving research into viable, successful businesses."
Currently located at 150 Dan Road, Canton, the new Organogenesis
headquarters campus comprises three large buildings encompassing more than
250,000 square feet and within 100 yards of each other:
85 Dan Road
-- Corporate offices will occupy this facility
-- 78,000+ square feet, including 40,000 square feet of currently
built-out office space (the remaining space is empty open bay for
-- Upgrades may add up to 10,500 square feet to the building footprint
150 Dan Road
-- To become main research and development labs and pilot manufacturing
site for smaller product lines
-- 79,000+ square feet
275 Dan Road
-- To become main manufacturing facility, including 60,000 square feet of
manufacturing and quality labs, as well as shipping/receiving and
other support systems
-- 95,000+ square feet
Founded in 1985 to commercialize technologies initially discovered at the Massachusetts Institute of Technology (MIT), Canton-based Organogenesis delivers living cell therapy "on demand" to medical clinics. Organogenesis' signature product, Apligraf(R), is the first bio-engineered living cell therapy to have received FDA approvals to close diabetic foot ulcers and venous leg ulcers.
Unveiled last spring, Governor Patrick's life sciences plan includes a 10-year, $1 billion investment package that will both enhance the Commonwealth's already nationally recognized assets in the fields of medicine and science, and fill gaps in federal funding to ensure the state's ability to support life science progress from the idea stage through the production and commercialization stages. Key to the Governor's Life Science Initiative is new legislation that will strengthen the Massachusetts Life Science Center and charge it with the execution of a life science mission focused on science and economic development, strategic investments at critical stages of the development cycle, and collaboration with the private sector to create innovation infrastructure critical to both researchers and companies.
About Regenerative Medicine
A new frontier in healthcare, regenerative medicine utilizes living human cells, including stem cells, to repair or replace body tissue damaged by injury, disease or even the natural aging process.
Regenerative medicine is a multidisciplinary field which brings together biology, medicine, and engineering to empower scientists to grow living cells, tissues and organs in the laboratory, and to safely implant them into the human body for the purposes of healing.
About Organogenesis, Inc.
Massachusetts based Organogenesis, Inc. is the world's most successful regenerative medicine company and is focused in areas of bio-active wound healing, bio-surgery and bio-aesthetics. Organogenesis delivers living tissue "on demand," and its mission is to bring the medical marvel of regenerative medicine products to patients and to standardize their use in everyday medical care.
Organogenesis is in the midst of a large expansion, both in the U.S., as well as overseas. As the world's leading Regenerative Medicine company, Organogenesis has broadened its international scope and ties over the past few years. The company has recently established European headquarters located in Switzerland. In addition, last December the company announced an agreement with China's National Tissue Engineering Center (NTEC), a leading stem cell and regenerative medicine consortium, headquartered in Shanghai, for the commercialization of Organogenesis, Inc. technology within the Chinese market, and potentially throughout Asia. For more information, visit http://www.organogenesis.com.
|SOURCE Organogenesis, Inc.|
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