Abcam opens new US facility in Boston, MA

Rhea-AI Summary

Abcam (AIM: ABC, NASDAQ: ABCM) announced the opening of a new 100,000 sq-ft facility in Waltham, MA, as a critical step in its expansion in the United States. This site will support the company's R&D, production, distribution, and customer service operations, addressing the growing needs of the life sciences sector. The new facility more than doubles Abcam's previous capacity and will eventually accommodate around 300 employees. The announcement follows Abcam's NASDAQ listing in October 2020 and its establishment of a cell engineering facility in December 2020.

Positive

• New facility in Waltham, MA, expands operational capacity significantly.
• More than doubles previous capacity from Kendall Square site.
• Expected to create approximately 300 jobs, enhancing local economy.

Negative

• None.

CAMBRIDGE, July 13, 2021 /PRNewswire/ -- Abcam (AIM: ABC) (NASDAQ: ABCM), a global innovator in life sciences reagents and tools, today announces the opening of a major new site in Waltham, MA. 

The new facility is a central component of Abcam's growth in the United States, reinforcing its commitment to support the research and biopharma sector globally and serving as a hub for the Company's R&D and commercial activities in the region.

"Abcam's first step toward global expansion was in 2003 at Kendall Square. Since then, the US has become our largest market." commented Alan Hirzel, CEO at Abcam. "Investing in and expanding our presence in the vibrant Greater Boston cluster is another step in our journey to support biopharma partners and life science researchers globally, in their quest to accelerate discovery and the translation of these discoveries into improved human health outcomes."

The 100,000 sq-ft site will increase the Company's flexibility, scale, and capacity in R&D, Production, Distribution, and Customer Service required to address the increasing needs of the life sciences sector.  The ability to provide critical reagents to support research in all areas of the life sciences is vital to enable scientific breakthroughs that underpin the rapid development of diagnostics, vaccines, and potential therapeutics.

"Massachusetts continues to attract life sciences companies from across the globe, who come here to access our leading academic and medical institutions, diverse talent, a supportive government, and a robust start-up community," said Kendalle Burlin O'Connell, president and COO at MassBio. "We are thrilled to see Abcam outgrow its presence in Kendall Square and expand to Waltham, an area of growing interest for life sciences companies and one that is positioned for explosive growth in the coming years."

This facility more than doubles Abcam's capacity from its previous site in Kendall Square, Cambridge, MA and is expected to eventually house approximately 300 employees. The opening follows Abcam's listing on NASDAQ in October 2020 and the establishment of its new cell engineering facility in the Bay Area in December 2020.

Notes to Editors

About Abcam plc
As a global life sciences company, Abcam identifies, develops, and distributes high-quality biological reagents and tools that are crucial to research, drug discovery and diagnostics. Working across the industry, the Company supports life scientists to achieve their mission, faster.

Abcam partners with life sciences organizations to co-create novel binders for use in drug discovery, in vitro diagnostics and therapeutics, driven by the Company's proprietary discovery platforms and world-leading antibody expertise.

By constantly innovating its binders and assays, Abcam is helping advance the global understanding of biology and causes of disease, which enables new treatments and improved health. The Company's pioneering data-sharing approach gives scientists increased confidence in their results by providing validation, user comments and peer-reviewed citations for its 90,000 products.

With 13 sites globally, many of Abcam's 1,600-strong team are located in the world's leading life sciences research hubs, complementing a global network of services and support.

To find out more, please visit www.abcam.com and  www.abcamplc.com.

 

View original content:https://www.prnewswire.com/news-releases/abcam-opens-new-us-facility-in-boston-ma-301332406.html

SOURCE Abcam

FAQ

What is the significance of Abcam's new facility in Waltham, MA?

The new facility is a major expansion for Abcam, doubling its operational capacity and enhancing R&D capabilities to meet growing demands in the life sciences sector.

How many employees will the new Abcam facility eventually house?

The Waltham facility is expected to accommodate approximately 300 employees.

When did Abcam list on NASDAQ?

Abcam listed on NASDAQ in October 2020.

What is the size of the new Abcam facility?

The new facility spans 100,000 sq-ft.

Why is Massachusetts attractive for life sciences companies?

Massachusetts offers access to leading academic institutions, a talented workforce, supportive government, and a robust start-up community, making it ideal for life sciences companies.