What you need to know
The company received a Texas Enterprise Fund grant of nearly $1.5 million to open the $31 million facility, which will create more than 170 new jobs in Plano, per the release.
“Texas is the epicenter for groundbreaking, life-saving medical research and home to thousands of biotech and life science firms,” Abbott said in the release. “I congratulate NTx on their leading efforts to advance the healthcare industry in Texas with their next generation biomanufacturing solutions. Working together, we will keep Texas on the cutting edge of biotech research and development and save more lives.”
What else?
The company was founded in 2015 and manufactures pharmaceutical-grade raw materials, which are used to develop RNA and protein therapeutics. It is currently based in Rio Rancho, New Mexico.
NTxBio President and CEO Jamie Coffin said the expanding biotech community and talent pool in Texas led to the decision to open the facility.
Quote of note
“This new cutting-edge R&D lab will not only drive the company's expansion across North America but also revolutionize the discovery and production of biologic materials.” Plano Mayor John Muns said the release. “Plano is a thriving hub for corporate innovation, and NTx is yet another industry leader driving the future of next generation biomanufacturing solutions.”
