California-based gene therapy company Adverum Biotechnologies will invest $82.8 million for a new gene therapy manufacturing facility in Durham County.
The investment will create more than 200 new jobs.
Adverum is a clinical-stage gene therapy company targeting unmet medical needs in serious ocular and rare diseases. The company is developing its lead gene therapy candidate ADVM-022 in ongoing clinical trials for wet age-related macular degeneration and diabetic macular edema.
Adverum’s new presence in North Carolina will be facilitated, in part, by a Job Development Investment Grant approved by the state’s Economic Investment Committee.