An expansion is coming to Fishers Life Science and Innovation Park, and with it, plans to hire 210 more employees by the end of 2023.
List Biotherapeutics will inject $ 125 million into the project, establishing a 110,000 square foot CMO facility on 15 acres in the park. There will be both a laboratory and office space, and new staff will be hired for roles in biologics manufacturing and quality and regulatory compliance.
“We are excited to establish our new manufacturing operations at Fishers, a growing life sciences center with access to top talent who can support our international expansion. The Mayor of (Fishers) (Scott) Fadness and his team have been incredibly supportive throughout this process, ”List President and CEO Jonathan Yongwan Jo said in a press release. “Our goal with the investment for this new facility is to manufacture live biotherapeutics for phase III clinical trials and for commercial use. “
The new facility will provide end-to-end manufacturing solutions, from initial development to clinical trials and late stage commercialization. List Labs, List Bio’s sister company, recently secured an investment from Genome, the South Korea-based parent company, which became the majority shareholder.
List Labs was founded in California by Linda Shoer in the mid-1970s. When she died in 1999, she bequeathed it to her two sisters. Live biotherapeutics are under development to target intestinal, dermatological, neurological, reproductive and oncological disorders.
The company will get up to $ 3.15 million in incentive tax credits from the Indiana Economic Development Corporation, based on List’s job creation plans. It will also receive $ 75,000 in training grants and up to $ 1.6 million for infrastructure improvements. These incentives will be voted on by city council later in November.
“This is a tremendous development for the Indiana life sciences industry, the fishing town and the state,” said Brian Stemme, senior vice president of engagement for BioCrossroads, a organization focused on growing Indiana’s life sciences industry. “Genome manufactures key components for developing biotech products around the world. It is a testament to our experienced workforce and our strength in pharmaceutical manufacturing that this global player is investing in our region.
In October, Italian manufacturer Stevanato inaugurated a $ 145 million facility with the aim of bringing operations closer to its US customers. The building will cover 370,000 square feet, help reduce the time to market for its drug, lower the cost of ownership and reduce supply chain risks. The company debuted on the New York Stock Exchange in July with a valuation of $ 5 billion.