BMS leases biologic development space in New Jersey to PTC

08-Aug-2019 - Last updated on 08-Aug-2019 at 13:46 GMT

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Bristol-Myers Squibb and PTC Therapeutics enter a long-term lease agreement giving the latter greater access to biologic production facility as it advances its treatments for rare genetic disorders.

PTC Therapeutics signed a long-term lease agreement with Bristol-Myers Squibb (BMS) to gain access to a 185,000 square foot space in Hopewell, NJ. The site, located on BMS’ property, includes a biologics production facility, and research and operations buildings.

With this 15-year lease agreement, PTC plans to further develop the biologics facility in an aim to support its gene therapy production capabilities. The site’s current good manufacturing practice (cGMP) suites will be used to produce material to serve PTC’s pre-clinical and clinical programs.

The company focuses on developing treatments for rare genetic disorders, specifically, therapies for Duchenne muscular dystrophy (DMD) and spinal muscular atrophy (SMA).

Additionally, PTC intends to move its research operations to the site complementing existing operations at the company’s existing New Jersey productions. A spokesperson for the company told us that PTC has been in New Jersey for over 21 years.

PTC also stated that it has plans to relocate and expand its discovery and research operations to the site in 2020.