Beam Therapeutics to Build $83M Manufacturing Facility in RTP, Create Hundreds of Jobs
RALEIGH — Beam Therapeutics, a Boston-based biotechnology company developing precision medicines through DNA base editing, plans to build a $83 million manufacturing facility in North Carolina’s Research Triangle Park, it was announced today.
The uptick: the addition of 201 jobs with an average salary of around $102,654.
“North Carolina is a leader in biotechnology, from the research in our labs to the state’s biomanufacturers,” said Governor Roy Cooper, in a statement. “Companies like Beam Therapeutics’ work in developing precision medicines will help keep North Carolina on the cutting edge of this industry.”
Beam is developing precision genetic medicines through a pioneering CRISPR technology known as base editing. It’s using this proprietary gene editing approach to create therapies aimed at cures for serious diseases with precise edits to single base pairs in DNA and RNA.
It’s targeting gene therapies in the fields of hematology, oncology, liver diseases, and ocular and central nervous system (CNS) diseases. The company believes its approach provides greater control of the gene editing process with a lower risk of unintended off-target effects. Based on the most effective method for each target organ, Beam uses a range of gene delivery strategies, including electroporation for blood and immune cells, non-viral (LNP) for liver and potentially other organs, and viral (AAV) for delivery to the eye and CNS.
Beam’s technology platform incorporates gene editing and gene delivery modalities found across North Carolina’s broad and growing cell- and gene-based therapy community. In the gene editing space, North Carolina has both home-grown companies like Precision BioSciences and production-phase companies including Cellectis.
“We believe investment in strategic manufacturing capabilities is an important component of fully realizing the power of our base editing technology and achieving our vision to provide life-long cures to patients suffering from serious diseases,” said John Evans, CEO of Beam Therapeutics, in a statement. “Research Triangle Park is a thriving biopharmaceutical hub, providing significant access to the broad range of talent we will need to make this vision a reality.”
Beam Therapeutics’ project in North Carolina will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee earlier today.
The agreement authorizes the potential reimbursement to the company of up to $3.2 million spread over 12 years.
NC Biotech Center contributed to this report.