CANTON, Mass., Sept. 28 /PRNewswire/ -- Today Governor Deval Patrick and Massachusetts Life Sciences Center President & CEO Susan Windham-Bannister, joined state and local officials, Organogenesis, Inc. CEO Geoff MacKay and employees, to celebrate the completion of the company's new headquarters building at 85 Dan Road in Canton.
Organogenesis kicked off the celebration by announcing that its Apligraf® living cell based product has been approved for the treatment of diabetic foot ulcers and other chronic wounds by the Saudi Food and Drug Authority (SFDA) of the Kingdom of Saudi Arabia, a major market opportunity in the Middle East. Apligraf is used by physicians to heal chronic wounds in patients in the U.S. and around the world.
The company also announced that it is hiring new employees, and that it will be one of the first companies featured in the new state initiative called "Stay Here" (www.massitsallhere.com/stayhere) to encourage recent college graduates to stay in-state and seek employment in Massachusetts.
"We are pleased to see Organogenesis' rapid growth after their decision to expand here in the Commonwealth," said Governor Patrick. "The regenerative medicine industry was born here, in our state's universities and labs. We are proud of the innovative and advanced technologies invented in Massachusetts, and it's very rewarding to see the industry taking shape and creating new jobs in our state."
Before the announcement, Governor Patrick appeared at a Town Hall-style meeting with Organogenesis employees, where topics included job growth and rapid development of the life sciences industry in Massachusetts.
Organogenesis is in the midst of a major, multi-year expansion of its global headquarters, R&D and manufacturing facilities. The Life Sciences Center, charged with implementing the State's ten-year, $1 billion Life Sciences Initiative that was signed into law by Governor Patrick in June of 2008, awarded a $7.4 million grant to Organogenesis, Inc. to help facilitate the expansion. The Center provided $3.7 million in FY 2009 and $3.7 million during FY 2010.
The Massachusetts Office of Business Development worked closely with Organogenesis to create a $12.9 million incentive package, including the Life Sciences Center grant, as well as tax credits for research-and-development expansion. In addition, the state facilitated $5 million in low-interest loans for growth initiatives. The Life Sciences Initiative also addressed tax inequalities when compared with competing states. As part of the agreement, Organogenesis committed to creating 280 new in-state jobs by 2013.
"Today we were honored to have so many state and local officials join us in celebrating the completion of our new headquarters," said Organogenesis CEO Geoff MacKay. "Because of our urgent need for more space, it couldn't have happened too soon. Since last year, we've already added another 50 jobs, for a total of more than 400 employees. Soon we will launch Apligraf in a new international market, and we have more major expansion news to announce in the coming weeks. In short, we're growing, and hiring, in Massachusetts."
"Organogenesis is a great example of the Life Sciences Initiative at work," said Dr. Susan Windham-Bannister, President and CEO of the Massachusetts Life Sciences Center. "Through this investment, we are creating jobs, and encouraging tens of millions of dollars in private investment and increased revenue for the Commonwealth, while helping to establish an anchor in Massachusetts for the field of regenerative medicine, where a tremendous amount of life sciences innovation is taking place."
Organogenesis' expansion is currently in the first of two phases. In addition to the new headquarters building, plans are in development for a highly advanced, state of the art regenerative medicine R&D and manufacturing plant to be located at its Canton campus. The company will use advanced robotic and modular manufacturing technologies in a facility that it believes will be the largest cell therapy manufacturing operation in the world. This planned facility, with expected completion in 2013, will allow the company to leverage its leadership in the regenerative medicine field to attract substantial resources and jobs to Massachusetts over the next ten years.
The company estimates its total investment in Phase I (to be completed by 2013) at approximately $40 million, including design, construction and validation. The company's total investment in the two-phased expansion will be approximately $63 million.
"I am very happy to join Governor Patrick and CEO Geoff MacKay in celebrating this expansion of Organogenesis," said State Senator Brian Joyce. "The expected doubling of this life science company's workforce with high paying jobs is exactly what we envisioned when we passed the Governor's Life Science Initiative. This expansion is proof that our targeted and prudent investments are resulting in the creation of much needed jobs."
"The Life Sciences field continues to grow and play a pivotal role in the wellbeing of our state," said State Representative Bill Galvin. "Our region is fortunate to have a thriving business such as Organogenesis and I wish them continued success."
About the Massachusetts Life Sciences Center
The Massachusetts Life Sciences Center ("the Center") is a quasi-public agency of the Commonwealth of Massachusetts tasked with implementing the Massachusetts Life Sciences Act, a ten-year, $1 billion initiative that was signed into law in June of 2008. The Center's mission is to create jobs in the life sciences and support vital scientific research that will improve the human condition. This work includes making financial investments in public and private institutions that are advancing life sciences research, development and commercialization as well as building ties between sectors of the Massachusetts life sciences community. For more information, visit www.masslifesciences.com.
About Organogenesis, Inc.
Having pioneered the field, Massachusetts based Organogenesis, Inc. is a leading regenerative medicine company focused in the areas of bioactive wound healing, oral regeneration and biosurgery. The company's mission is to bring the medical marvel of regenerative medicine products to patients and to standardize their use in everyday medical care. For more information, visit www.organogenesis.com.
|SOURCE Organogenesis, Inc.|
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