A young biotechnology contract research organization is expanding its Greater Columbus operations by creating 263 jobs and building a 350,000-square-foot operation in New Albany that will cost $150 million.
AmplifyBio said it will create 132 jobs at the new building at 9885 Innovation Campus Way and 99 others at its existing West Jefferson location on a 30-acre campus at 1425 Plain-City Georgesville Road. The remaining corporate jobs will be added at a site to be determined later.
The company one was one of six to receive approval Monday for state tax incentives from the Ohio Tax Credit Authority.
The projects will create 1,281 jobs and retain 747 statewide and result in $185 million in new investment in Ohio.
Battelle spun out AmplifyBio as a gene therapy startup a year ago, setting up shop on Battelle’s West Jefferson campus.
In 2021, AmplifyBio raised $200 million in early-stage venture capital investments, the second largest such investment in the Columbus region last year.
Investors in the company include Battelle as well as J.D. Vance’s Cincinnati-based venture capital fund, Narya Capital, Connecticut-based Viking Capital and New York-based Casdin Capital. Vance just won the Republican nomination for the Ohio Senate seat held by the retiring Rob Portman and is known for writing “Hillbilly Elegy.”
Battelle has worked in life sciences for years, often handling government contracts. With private industry contract work in the pharmaceutical realm, notably DNA work with Moderna on its coronavirus vaccine, there was a drive to explore other opportunities in gene therapy, which genetically modifies cells to prevent or treat diseases.
AmplifyBio said hiring for research and development jobs will go on through the year.
The tax credits have an estimated value of $5 million, according to the state. The new jobs will generate payroll of $24.1 million.
The company said the expansion is being driven by surging demand for advanced therapies, including gell and gene therapy products.
“We believe that our innovation platform is a perfect fit for the collaborative environment that I first noticed when I came to Ohio,” AmplifyBio CEO Kelly Ganjei said in a statement. “Our partners, collaborators and clients view working in the region as a phenomenal opportunity, and we are convinced that our business model will continue to drive more innovative developers into the area.”
The company focuses on safety, efficacy and toxicology testing for best-in-class and advanced therapy drug candidates to accelerate the development of scalable products.