FISHERS, Ind. (Nov. 15, 2021) – Genezen, a cell and gene therapy Contract Development and Manufacturing Organization (CDMO), announced plans today to invest $40 million to expand operations in Fishers, creating up to 62 new high-wage jobs by the end of 2023.
“Genezen is another example of how Indiana’s business climate and quality workforce are well established and suited to propel biotech companies to success and creating an economy of the future,” said Indiana Secretary of Commerce Brad Chambers. “Attracting innovative companies that are developing technologies of tomorrow and creating forces of change for people around the world is exactly what Indiana wants to attract and retain across the state. I’m excited to support Genezen through all its growth and success.”
Fishers-based Genezen will invest $40 million to lease and upgrade its cGMP lentiviral and retroviral vector production facility. The multiphase 75,000+ square-foot facility expansion at Westpoint Drive is underway, with ongoing cGMP cleanroom buildout and recent completion of additional process development laboratory space in an initial 25,000 square-foot footprint.
“This is an exciting stage of Genezen’s growth journey as we continue to grow and prosper within the Indiana community” said Ray Kaczmarek, Genezen CEO. “The talent and biotech expertise in Indiana is flourishing, and we are highly confident that we’ll continue to build a world-class team supporting our clients as they bring life-changing therapies to market.”
Today’s announcement comes less than two years after Genezen announced plans to grow operations in Fishers creating up to 36 jobs by the end of 2024, with an initial self-funded investment of $7.8 million. Currently employing 34 associates, Genezen is set to exceed this target by the end of 2021, as it gears up for its next phase of growth.
Genezen is actively hiring across all functions, including business development, finance, HR, vector manufacturing, laboratory, quality, and vector production. Interested applicants can apply online.
“With today’s growth announcement from Genezen, Fishers’ life science cluster continues to take a foothold in the industry,” said Fishers Mayor Scott Fadness. “Our focus on innovation and entrepreneurship laid the foundation for companies like Genezen to find a home that allows them the business environment and talent to directly support biotech innovation right here in Fishers. I look forward to supporting Genezen as they continue to grow.”
Based on the company’s job creation plans, the Indiana Economic Development Corporation committed an investment in Genezen Laboratories Inc. of up to $950,000 in the form of incentive-based tax credits. The IEDC will also offer up to $50,000 in training grants. These tax credits are performance-based, meaning the company is eligible to claim credits once investments are made and employees are hired and trained. The Fishers City Council approved additional incentives during its November 15 City Council meeting.
Founded in Indianapolis in 2014, Genezen is focused on supporting the demands of the current and future gene and cell therapy manufacturing market worldwide. The expansion will enable the company to make scalable viral vector development production accessible to both early-stage, growth-oriented companies and established industry leaders to help deliver life-changing therapies to patients.
Construction of Genezen’s GMP manufacturing suites is expected to become operational in the first half of 2022, enabling the company to deliver a full suite of complementary capabilities. The new facility is being funded by majority investment from Ampersand Capital Partners, a private equity firm specializing in growth equity investments in the healthcare sector.
Founded in Indianapolis in 2014, Genezen is focused on supporting the demands of the current and future gene and cell therapy manufacturing market worldwide — making viral vector production accessible to both early-stage, growth-oriented companies and established industry leaders. Genezen offers early-phase process development, GMP lentiviral vector production, GMP retroviral vector production, and analytical testing services, building on the company’s expansive knowledge and experience in the industry and working with the nation’s leading institutions. For more information, or to learn more about services offered in Genezen’s new cGMP facility, please visit genezen.com
The Indiana Economic Development Corporation (IEDC) is charged with growing the State economy, driving economic development, helping businesses launch, grow and locate in the state. Led by Secretary of Commerce Brad Chambers @SecChambersIN and governed by a 15-member board chaired by Governor Eric J. Holcomb, @GovHolcomb, the IEDC manages many initiatives, including performance-based tax credits, workforce training grants, innovation and entrepreneurship resources, public infrastructure assistance, and talent attraction and retention efforts. For more information about the IEDC, visit iedc.in.gov.