Sugar Land invests $1M in stem cell-based therapeutic company

The city of Sugar Land is helping support the expansion of Hope Biosciences, a Sugar Land-based biopharmaceutical company specializing in adult stem cell-based therapeutics, city officials announced in a Jan. 7 news release.

Zooming in

The $1 million performance-based incentive comes after the Sugar Land-based business purchased a permanent building in the city at 16700 Creek Bend Drive, per the release. The company will invest $2 million into improving the building and create 15 new jobs, averaging a $61,240 salary, in the next five years.

The incentive—distributed $200,000 annually over five years—will be provided through the Sugar Land Office of Economic Development & Tourism, according to the release.

“Hope Biosciences is a homegrown success story and a key example of how life science companies can thrive in Sugar Land,” Jennifer Alexander, Sugar Land business development manager, said in the release. “This incentive marks the first granted to a life sciences company and signals our commitment to supporting this sector, which is critical to our city’s economic future.”

Diving in deeper

Hope Biosciences develops therapies using stem cells from a patient’s own body to regenerate or repair damaged tissues and treat conditions such as neurodegenerative and autoimmune diseases. It is the only company in the United States to offer clinical-grade stem cell banking for adults and newborns, per the release.

According to the release, the company—which partners with regional and national institutions and provides direct-to-consumer stem cell banking services—is advancing clinical trials for diseases including:

• Multiple sclerosis
• Lupus
• Traumatic brain injury