Intellia Therapeutics Enters Lease Agreement to Build Manufacturing Facility for its CRISPR-based Therapies
Intellia Therapeutics (NASDAQ:NTLA) has announced a lease agreement for a new 140,000-square-foot GMP manufacturing facility in Waltham, Massachusetts, expected to be operational in 2024. This facility will support the production of components for its CRISPR-based investigational therapies, enhancing manufacturing capacity and capability as the company advances its pipeline. Intellia's Chief Technical Officer emphasized the strategic importance of this investment for efficient production, while the Chief Financial Officer noted the benefits of a long-term lease over building a facility.
- New GMP-compliant manufacturing facility to support preclinical through commercial production.
- Expected operational date in 2024 enhances production capacity for CRISPR therapies.
- Long-term lease agreement provides greater manufacturing flexibility with modest upfront costs.
- Dependence on landlord's capability for timely completion and GMP compliance of the facility.
- Risks related to manufacturing requirements and results from preclinical and clinical studies.
- State-of-the-art GMP manufacturing facility to support preclinical through commercial production of Intellia’s investigational therapies
- New facility in Waltham, Massachusetts expected to be operational in 2024
CAMBRIDGE, Mass., Feb. 23, 2022 (GLOBE NEWSWIRE) -- Intellia Therapeutics, Inc. (NASDAQ:NTLA), a leading genome editing company focused on developing curative therapies leveraging CRISPR-based technologies, today announced that it has entered into a lease agreement to develop a 140,000-square-foot manufacturing facility in Waltham, Massachusetts, to support the manufacturing of key components for its CRISPR-based investigational therapies.
“As Intellia continues to advance a growing number of innovative CRISPR-based medicines, the ability to efficiently and reliably manufacture our products is crucial to our mission of bringing transformational medicines to patients with life-threatening diseases,” said Intellia Chief Technical Officer Eliana Clark, Ph.D. “This new facility is a strategic investment, which in combination with existing capabilities and partnerships, will provide us with significant manufacturing capacity and accelerate the clinical development and future commercial production for our therapeutic candidates.”
The new manufacturing facility will be Good Manufacturing Practice (GMP) compliant and support both the preclinical through commercial supply upon regulatory approval for key components of Intellia’s CRISPR-based therapies. Additionally, this new facility will be able to provide capacity and capabilities in support of Intellia’s expanding pipeline and commercial readiness.
The new facility, customized for Intellia’s requirements, will be constructed and managed by Alexandria Real Estate Equities, L.P. and is expected to be operational in 2024. Intellia Chief Financial Officer Glenn Goddard went on to comment, “Choosing a long-term lease agreement provides Intellia with greater manufacturing flexibility and only a modest financial upfront requirement compared with building our own facility from the ground up. We look forward to working with Alexandria as they build this new facility.”
About Intellia Therapeutics
Intellia Therapeutics, a leading clinical-stage genome editing company, is developing novel, potentially curative therapeutics leveraging CRISPR-based technologies. To fully realize the transformative potential of CRISPR-based technologies, Intellia is pursuing two primary approaches. The company’s in vivo programs use intravenously administered CRISPR as the therapy, in which proprietary delivery technology enables highly precise editing of disease-causing genes directly within specific target tissues. Intellia’s ex vivo programs use CRISPR to create the therapy by using engineered human cells to treat cancer and autoimmune diseases. Intellia’s deep scientific, technical and clinical development experience, along with its robust intellectual property portfolio, have enabled the company to take a leadership role in harnessing the full potential of genome editing to create new classes of genetic medicine. Learn more at intelliatx.com. Follow us on Twitter @intelliatx.
Forward-Looking Statements
This press release contains “forward-looking statements” of Intellia Therapeutics, Inc. (“Intellia” or the “Company”) within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, express or implied statements regarding Intellia’s beliefs and expectations regarding: (i) the scope, timing and expense of the manufacturing facility build-out, including its reliance on its landlord, Alexandria Real Estate Equities, L.P., to perform its obligations; (ii) its ability, including reliance on its landlord’s capability, to complete the manufacturing facility in compliance with GMP requirements and maintain GMP-compliance of such facility; and (iii) its ability to accelerate its clinical programs, expand its pipeline, and provide commercial-scale manufacturing in support of its preclinical, clinical, and anticipated commercial programs. Any forward-looking statements in this press release are based on management’s current expectations and beliefs of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: risks related to Intellia’s relationship with third parties, including its current and future collaborators and partners, its current and future contractors, and the landlord of the manufacturing facility and its contractors; risks related to development requirements for Intellia’s product candidates and related manufacturing capacity and capabilities; risks related to manufacturing of Intellia’s product candidates and related components, including meeting manufacturing requirements, such as GMP, manufacturing for preclinical through commercial manufacturing; and risks related to results of preclinical studies or clinical studies not being predictive of future results in connection with future studies, including that expansion of Intellia’s pipeline depends in part on results of preclinical and clinical studies. For a discussion of these and other risks and uncertainties, and other important factors, any of which could cause Intellia’s actual results to differ from those contained in the forward-looking statements, see the section entitled “Risk Factors” in Intellia’s most recent annual report on Form 10-K and quarterly report on Form 10-Q, as well as discussions of potential risks, uncertainties, and other important factors in Intellia’s other filings with the Securities and Exchange Commission (“SEC”). All information in this press release is as of the date of the release, and Intellia undertakes no duty to update this information unless required by law.
Intellia Contacts:
Investors:
Ian Karp
Senior Vice President, Investor Relations and Corporate Communications
+1-857-449-4175
ian.karp@intelliatx.com
Lina Li
Director, Investor Relations
+1-857-706-1612
lina.li@intelliatx.com
Media:
Matt Crenson
Ten Bridge Communications
+1-917-640-7930
mcrenson@tenbridgecommunications.com
FAQ
What is Intellia Therapeutics' new GMP facility about?
When is the new manufacturing facility for NTLA expected to be operational?
What are the benefits of the new manufacturing facility for NTLA?
What risks are associated with Intellia's new manufacturing facility?
