When Shire ($SHPGY) bought out Advanced BioHealing in San Diego last year for $750 million, it trumpeted the addition of a new unit focused specially on regenerative medicine. And today it followed up with a blueprint to increase its footprint in that branch of biotech with a corporate campus in the Southern California biotech hub and plans to hire hundreds of new workers.
To better position itself for growth, Shire says it will build a 150,000-square-foot facility, Phase I in an expansion plan designed in anticipation of a swelling market for Dermagraft--a skin substitute--as well as adding new regenerative med products to the mix. Construction is slated to get under way in Sorrento Mesa next year with occupancy slated for 2014.
"This new campus will give us the flexibility and increased capacity we need to develop and manufacture new regenerative medicine therapies and build our foundation for continued growth in this exciting field," said Kevin Rakin, Shire's regenerative medicine president.
- here's the press release
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