Pfizer to invest $100 million in N Carolina for gene therapy
Posted August 7
SANFORD, N.C. — Biopharmaceutical giant Pfizer Inc. plans to invest $100 million in a North Carolina plant to focus on a process by which genetic material is introduced to counter defective or missing genes.
The company confirmed Gov. Roy Cooper's news on Monday that it will expand its Sanford operations in preparation for producing gene therapy medicines based on technology developed at UNC-Chapel Hill. Cooper's news release says the investment will lead to 40 new jobs.
Pfizer last year bought a Chapel Hill-based company developing gene-therapy treatment for neuromuscular conditions and diseases affecting the central nervous system. Pfizer is also planning to give $4 million toward gene therapy research training at North Carolina universities.
A Pfizer subsidiary is expected to receive a $250,000 grant from the state to help aid the expansion.