Biotech firm Thermo Fisher Scientific recently celebrated the opening of a new 50,000-sq-ft CDMO facility for viral vectors in Lexington, MA to meet increased demand from the biotechnology sector, the company announced in a release Wednesday. Viral vectors manufactured at the $90 million facility will help pharmaceutical and biotech companies to commercialize new gene and cell therapies.
“The demand for new gene therapies has outpaced capacity, and we’re in a unique position to partner with our customers to help them accelerate development and production of medicines that will ultimately benefit patients suffering from rare diseases,” Michel Lagarde, executive vice president of Thermo Fisher, said in a statement. “We’re also excited to create 200 new jobs that support the thriving biotech industry in Massachusetts.”
Scientists, quality control specialists, and production personnel will manufacture and test the viral vectors at the Lexington facility. The site will also offer a range of services that assist customers in drug development through clinical trials and manufacturing.
Thermo Fisher acquired viral vector CDMO Brammer Bio earlier in 2019 and incorporated the company into its Pharma Services business.
Business insights firm Market Research Future forecasts that the global market for viral vectors will grow at a CAGR of 22.65% from 2018 to 2023 and reach a market value of $319 million by the end of the period.