Cambridge, Massachusetts-based Rubius Therapeutics will spend up to $155 million to renovate a site in Rhode Island into a manufacturing facility for its therapy that will weaponize red blood cells in large quantities in bioreactors. (Rubius Therapeutics)
Enthusiasm in the immuno-oncology therapies being developed by Rubius Therapeutics has allowed the biotech to quickly raise $220 million, a large chunk of which it will invest in a cell therapy manufacturing facility.
The Cambridge, Massachusetts-based company this week announced it would invest $155 million to renovate a 135,000-square-foot manufacturing facility in Smithfield, Rhode Island, where it will produce its cell-based therapies. The facility is expected to have 160 employees when it is completed in five years or so. In exchange, the company is getting some financial incentives from the state.