GAINESVILLE, Fla., May 14, 2021 /PRNewswire/ -- Concept Companies, a Gainesville headquartered full-service real estate development and construction firm, has executed an agreement to commence development of a new laboratory facility for Applied Genetic Technologies Corporation (Nasdaq: AGTC). The location will include quality control labs and a manufacturing suite, expanding AGTCs existing footprint in Alachua, FL. The 21,000 square foot building is expected to be ready for occupancy in 2022.
"Alachua is the perfect location for companies like AGTC who operate out of corporate offices in larger municipalities such as Cambridge, but desire to have more customized, flexible and affordable R&D and manufacturing facilities in our business-friendly Sunshine State," said Brian Crawford, founder, owner and CEO of Concept Companies.
The Foundation Park site, developed by Concept Companies, is a strategically located property in the heart of the North Florida Research cluster offering state-of-the-art, build-to-suit laboratory and office space for biotechnology and life science companies. It's a great fit for companies of all sizes, and particularly for the emerging trend of large companies headquartered in larger cities either relocating or locating anew, certain segments of major organizations. This trend is being heightened by the realities of continued growth within the sector and compounded by coronavirus, providing much needed decision-making flexibility to large companies.
"This manufacturing build-out reinforces our commitment to the advancement of our XLRP candidate through a Phase 2/3 clinical trial and, if approved, eventual commercialization. We are taking steps to increase control over our cGMP manufacturing and analytical release to ensure that we can meet anticipated future demand for our current clinical candidates and our exciting pre-clinical opportunities," said Sue Washer, President and Chief Executive Officer of AGTC. "This state-of-the-art manufacturing facility will provide us with the flexibility to pursue additional indications that have large patient populations and/or require substantially higher doses to provide efficacy."
"The City of Alachua is thrilled with AGTC's expanded presence in the region and we commend Concept Companies for its vision to provide this critical facility, which will support our economy, job growth and quality of life," said Adam Boukari, City Manager, Alachua.
Concept Companies also recently announced Momentum Labs, an Alachua-based state-of-the-art facility with dedicated staff who provide service similar to what companies in biotech incubators have become accustomed to while concurrently tailoring services to better fit recent incubator graduates moving toward commercialization. Phase One of Momentum Labs' new flagship facility is expected to be between 50,000 and 60,000 square feet, with potential expansion up to 120,000, and the potential for additional locations critical to the ecosystem in North Florida.
Applied Genetic Technologies Corporation (Nasdaq: AGTC), is a biotechnology company conducting human clinical trials of adeno-associated virus (AAV)-based gene therapies for the treatment of rare diseases.
About the Development Team
The development team is comprised of Concept Companies, RS&H Architects, AEI Mechanical Engineers and CHW Civil Engineers. The team members have collaborated on numerous projects in the region ensuring clients' needs are met.
About the Brokerage Team
The lease was brokered through Jared Pimm of CBRE Boston and Nick Banks of Avison Young. Phil Hawley of Hawley Realty & Investments worked with Concept Companies during the initial acquisition and establishment of the Foundation Park Project.
About Concept Companies
Concept Companies is a full-service real estate development and construction firm, with projects ongoing across the U.S., headquartered in Gainesville, FL. Our services include commercial real estate development, site selection through turn-key construction and architecture. We have a broad portfolio of successful projects in a variety of industries including retail, education, life sciences, fitness, hospitality, automotive and industrial construction. For more information visit www.conceptcompanies.net.