AveXis Adds 200 Jobs and $60M Investment to Raleigh Manufacturing Location

2/19/19

By Jacquelyn Melinek, NCBIZNews

AveXis, a biotechnology company, will create 200 jobs as it expands its Durham County-based manufacturing center.

AveXis is a leading gene therapy company that develops treatments for rare and life-threatening neurological deseases.

The clinical-stage company was purchased in 2018 for $8.7 billion by pharmaceutical company Novartis, which is headquartered in Bannockburn, Illinois, in Chicago’s North Shore region.

The biotech company will invest $60 million in the new facility and plans to manufacture medicines for rare genetic diseases.

The North Carolina Department of Commerce and the Economic Development Partnership of North Carolina led the state’s support for the company’s expansion.

AveXis’ expansion will be partially facilitated by a Job Development Investment Grant approved by the state’s Economic Investment Committee. The project holds a 12-year term with the grant and is estimated to grow the state’s economy by $1.3 billion.

“North Carolina’s expertise in the life sciences continues to lead the nation,” Gov. Roy Cooper said. “Pioneering companies like AveXis keep our state at the forefront of promising new approaches like gene therapy, which opens up new ways for us to tackle tough diseases.”

AveXis will create various positions at the manufacturing center, including scientists, engineers, analysts, manufacturing and operations personnel.

According to the N.C. Department of Commerce, salaries for the new positions will average $72,952, which is higher than the current Durham County average wage of $68,731.

“Our primary focus is to bring gene therapies to patients suffering from devastating rare neurological genetic diseases, such as SMA, genetic amyotrophic lateral sclerosis and Rett syndrome,” said Andy Stober, senior vice president of technical operations and chief technology officer of AveXis. “Continued investment in our infrastructure in North Carolina will allow us to manufacture multiple gene therapies simultaneously, helping us reach more patients, faster.”

For more information from the Department of Commerce. visit here.

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