CAMBRIDGE, Mass.--(BUSINESS WIRE)--Jun. 2, 2014--
Sarepta Therapeutics, Inc. (NASDAQ:SRPT), a developer of innovative
RNA-based therapeutics, today announced the opening of its new global
headquarters at 215 First Street in Cambridge’s Kendall Square. Sarepta
executives, directors and employees will celebrate the announcement at a
ribbon-cutting ceremony at 10:00 a.m. with several federal, state, and
local government officials from Massachusetts, leaders of the
Massachusetts life sciences and biotechnology communities, and
representatives from leading Duchenne muscular dystrophy (DMD) patient
advocacy groups. The new headquarters includes approximately 45,000
square feet of office and laboratory space capable of supporting early
stage drug discovery and development.
Sarepta is the global leader in the development of phosphorodiamidate
morpholino oligomer (PMO) chemistries for RNA therapeutics, and the
company’s lead drug candidate, eteplirsen, is designed to address the
underlying cause of DMD. The company is also developing several
additional clinical candidates for rare and infectious diseases and
continues to advance its PMO technology platform.
“We are very pleased to join and contribute to the thriving life
sciences community in Massachusetts,” said Chris Garabedian, president
and chief executive officer of Sarepta Therapeutics. “Operating in
Cambridge provides us with access to the region’s world-class
biopharmaceutical talent, major academic medical centers and hospitals,
and industry leaders in the RNA and rare disease fields. This access to
talent and resources is critical as we develop our lead drug candidate,
eteplirsen, for the treatment of DMD.”
“Thanks to our growth strategy of investing in education, innovation and
infrastructure, Massachusetts continues to lead the world in life
sciences,” said Massachusetts Governor Deval Patrick. “We congratulate
Sarepta Therapeutics on their expansion and look forward to their
continued contributions to our thriving life sciences community.”
The milestone completes the relocation of Sarepta’s headquarter
operations to Cambridge, a process that began in early 2013. Since the
relocation began, Sarepta has rapidly grown to approximately 160
employees, with nearly 90 based in Cambridge. In addition, Sarepta
recently announced an agreement to acquire a 60,000 square foot
multifunctional manufacturing facility on 26 acres of land in Andover,
Mass., further expanding the company’s in-state operations. The company
anticipates continued growth in its employee base at these two
Massachusetts locations over the next year. The company also has
operations at a facility in Corvallis, Ore., focused on research,
manufacturing and other support functions.
“On behalf of the Center, I would like to extend our warmest
congratulations to Sarepta Therapeutics as the company officially opens
its global headquarters in Cambridge,” said Susan Windham Bannister,
Ph.D., president and chief executive officer of the Massachusetts Life
Sciences Center, the agency charged with implementing Governor Patrick’s
10-year, $1 billion Life Sciences Initiative. “Sarepta’s mission is to
be on the cutting edge of innovation in RNA-based therapeutics and the
management team believed that relocating to Massachusetts would help the
company achieve that goal. Sarepta has grown exponentially here in
Massachusetts, and we look forward to partnering with the company to
support its future growth.”
Distinguished guests attending the celebration offered the following
remarks:
“Congratulations to Sarepta on opening its global headquarters today in
Cambridge,” said U. S. Representative Michael Capuano. “Greater Boston
is a unique center of excellence in biomedical sciences. Our great
universities, research institutes and teaching hospitals unite academic
and clinical research at a density and intensity unequalled anywhere in
the world. I welcome the life-saving innovations they create and the
employment opportunities they provide.”
“Sarepta is just the type of growth-oriented, community-friendly company
that the City of Cambridge is lucky to have as a partner in our
community,” said Mayor David Maher. “Cambridge is now at the center of
one of the biggest cross collaborations between municipalities,
universities, hospitals and businesses in the United States. Welcoming
yet another great company like Sarepta demonstrates that our City is
unquestionably at the leading edge of the life science industry
throughout the country.”
“It is great to see innovative companies such as Sarepta opening their
global headquarters in Cambridge,” said State Senator Sal DiDomenico.
“Their work in the area of rare diseases is impressive, and I have no
doubt that their research and development will bring about important
changes to the life sciences field.”
“I’m pleased to welcome Sarepta Therapeutics to the vigorous life
sciences community in Massachusetts. I’m confident that the company’s
strong R&D organization will ensure that even more high skilled jobs
will be created in Cambridge as well as contribute to the continued
growth of the robust biotech sector in Massachusetts,” said State
Representative Timothy J. Toomey.
“Here in the Commonwealth we are pleased to have Sarepta Therapeutics
establish their headquarters in Cambridge,” said State Representative
Carlo P. Basile, Chairman of the Committee on Veterans and Federal
Affairs. “Massachusetts has been known for its medical expertise for
many years, and we are very proud of the fact that we are one of the
world’s leaders in life sciences. Adding an accomplished entity like
Sarepta Therapeutics to the Commonwealth will help keep our skilled
biopharmaceutical graduates here and give them another potential
workplace to use their talents.”
“As we recognize Duchenne Awareness Month this June, I’m excited to see
Sarepta Therapeutics take another step towards advancing important
potential treatments for boys and young men living with Duchenne with
the opening of the company’s new headquarters in Cambridge,” said
Christine McSherry, executive director of the Jett Foundation and a
co-founder of the Duchenne Alliance. “Our organizations, and the broader
Duchenne community, are committed to working with companies like Sarepta
to improve the lives of patients and families.”
About Sarepta Therapeutics
Sarepta Therapeutics is focused on developing first-in-class RNA-based
therapeutics to improve and save the lives of people affected by serious
and life-threatening rare and infectious diseases. The company's diverse
pipeline includes its lead program eteplirsen, for Duchenne muscular
dystrophy, as well as potential treatments for some of the world's most
lethal infectious diseases. Sarepta aims to build a leading, independent
biotech company dedicated to translating its RNA-based science into
transformational therapeutics for patients who face significant unmet
medical needs. For more information, please visit us at www.sarepta.com.
Forward-Looking Statements and Information
This press release contains statements that are forward-looking,
including the statements about the anticipated benefits of Sarepta
moving its headquarters to Cambridge such as its ability to access local
talent and resources, Sarepta’s anticipated growth and increase in its
workforce over the next year, Sarepta’s preparations for potential
commercialization of eteplirsen and plans to continue advancing its
pipeline of drug candidates and PMO technology platform, within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934. These forward-looking statements
involve risks and uncertainties, some of which are beyond Sarepta’s
control. As a result of various factors including availability of
resources, clinical trial and research results, government or agency
decisions and unexpected changes in applicable laws: Sarepta may not be
able to achieve all of the benefits it anticipates in connection with
moving its headquarters to Cambridge, Sarepta may not be able to grow
and expand within the time frames anticipated or at all, Sarepta may not
be able to submit an NDA for eteplirsen or receive the regulatory
approvals required for its commercialization and may not be able to
continue developing some or all of its drug candidates and PMO
technology platform. These risks should be considered together with
those included in the “Risk Factors” section of Sarepta’s Quarterly
Report on Form 10-Q for the quarterly period ended March 31, 2014, and
Sarepta’s other SEC filings. Any forward-looking statement in this press
release represents Sarepta’s views only as of the date of this press
release and should not be relied upon as representing its views as of
any subsequent date. Sarepta does not undertake any obligation to
publicly update its forward-looking statements based on events or
circumstances after the date hereof, except as required by applicable
law.
Source: Sarepta Therapeutics
Investor and Media:
Jim Baker, 617-274-4010
jbaker@sarepta.com
