KING OF PRUSSIA, Pa., Nov. 22, 2021 /PRNewswire/ --NeuExcell Therapeutics, Inc., a preclinical gene therapy company focusing on improving the lives of patients suffering from neurodegenerative diseases, today announced the signing of a lease with The Discovery Labs in King of Prussia, PA. This lease sets the stage for NeuExcell to establish their long-term corporate headquarters in the heart of Philadelphia's Cellicon Valley region and enables the company to build a world-class team tapping into the veteran cell and gene therapy talent in Greater Philadelphia.
Expansion Plans Will Support Growth of a World-Class Team to Lead Discovery and Development of NeuExcell's Innovative Gene Therapy Platform
Choice of The Discovery Labs Places NeuExcell in the Center of Philadelphia's Burgeoning Presence in Gene Therapy Research
NeuExcell's platform technology is based upon the scientific work of Professor Gong Chen. The potentially disruptive neural repair technology uses gene therapy to deliver specific proteins to a targeted site in the brain which results in the regeneration of functional neurons. The newly generated neurons integrate into existing brain circuits, leading to recovery. This technology has a broad scope of applications to treat neurodegenerative diseases and neural injuries, and NeuExcell's pipeline covers major neurodegenerative diseases as Stroke, Huntington's, Amyotrophic Lateral Sclerosis, Alzheimer's Disease, Parkinson's Disease, Traumatic Brain Injury, Spinal Cord Injuries, and Cancer.
"Discovery Labs is the premier place to be for gene therapy research in the Philadelphia region" says Russ Addis, Vice President of Research at NeuExcell. "Our team at NeuExcell is thrilled to have a long-term home there, as we look to advance our pipeline of revolutionary treatments for neurodegenerative diseases."
Being headquartered at The Discovery Labs facility will enable NeuExcell to expand R&D operations and will support discovery research from preclinical candidate exploration through submission of Investigational New Drug (IND) applications for clinical trials. There will be increased capacity for platform technology development, AAV manufacturing, process, analytical and assay development, and quality control testing.
"We are very excited to establish a presence in the midst of Philadelphia's cell and gene therapy epicenter," said Ronald Lorijn, NeuExcell's CEO. "This will allow us to attract key talent who will drive progress forward for our innovative gene therapy technology."
Terms of the deal include a multi-year lease and over 20,000 square feet of lab space within The Discovery Labs' one-million-square-foot campus in suburban Philadelphia. The Discovery Labs campus houses R&D, cGMP, cell and gene therapy labs, manufacturing, and office space for companies of all sizes and provides an unrivaled concentration of leading gene therapy organizations in the region. NeuExcell joins Penn Medicine's Gene Therapy Program, GSK, WuXi Biologics, and The Center for Breakthrough Medicines and others on the biotech innovation campus.
NeuExcell was represented by Colliers Life Sciences executives Joe Fetterman and Clifford Brechner. In its recent market report, Converging for Cures, Colliers identified The Discovery Labs as being located within one of eight significant Life Science neighborhoods in the Philadelphia region.
Discovery Labs was represented by Joe Corcoran, Senior VP, MLP Venture, in the transaction.