Vertex Pharmaceuticals has announced it is expanding its presence in Boston with a new lab site in the Seaport.
The 344,000 square foot facility is planned to be finished in 2025 and will support Vertex’s growth strategy and expansion of cell and gene therapy research.
Vertex has said that it will occupy 1.9 million square feet of space in the Seaport by then. The new structure will also create about 500 extra jobs.
At the dedication of the Jeffrey Leiden Center for Cell and Genetic Therapies, new state-of-the-art research and clinical manufacturing center with over 400 personnel, the biotech company unveiled its facility’s expansion ambitions.
Jeffrey Leiden, M.D., Ph.D., Executive Chairman at Vertex said: “This expansion is a sign of our deep commitment to Boston and the larger Massachusetts innovation ecosystem,” in a statement.
“These buildings represent so much more than having the best equipment in our labs or great amenities, as important as those things are. These buildings represent a further significant investment in our unique R&D strategy, to transform the lives of people with serious diseases, like sickle cell disease and type 1 diabetes, using cutting-edge genetic and cell-based therapies.”
Additionally, the company, along with the Vertex Foundation, announced a $50 million commitment to health equity centered around “clinical trial diversity, access to quality care, and education of the local health care workforce.”
Vertex’s expansion declaration came two weeks after the Food and Drug Administration stopped an early-stage diabetes study after the cell therapy, VX-880, wasn’t showing enough efficacy.
What is Vertex Pharmaceuticals?
Where is it based? The company has its headquarters located in Boston, Massachusetts.
How many staff does it have? It has around 3,900 employees
What is its annual revenue? Vertex Pharmaceutical’s revenue is around $416 million