Japanese Biotech Selects MoCo For HQ Adding To Critical Mass In Urban Bethesda
Montgomery County Economic Development Corporation (MCEDC) announced yesterday that Nobelpharma, a Japanese biotech, has selected Montgomery County for its U.S. headquarters. It will be the firm’s first overseas facility.
Hailing from Tokyo, Japan, Nobelpharma, specializes in pharmaceuticals and medical devices for unmet medical needs. While Montgomery County is a national leader in therapeutic drug development, the County lacks a large medical device industry.
Nobelpharma America made the move from a temporary office to 4520 East West Highway on July 1 with the intent on making future product launches. The firm signed a three-year lease for 5,350 square in downtown Bethesda starting with 11 employees and the expectation to grow that to 20 by the end of the year.
Fighting tuberous sclerosis was a key factor in the firms decision to move to Montgomery County, highlighting non-profits in the area such as the TS Alliance, along with federal organizations, the Food and Drug Administration (FDA) in Silver Spring and the National Institutes of Health (NIH) right next to downtown Bethesda.
Nobelpharma America joins a growing number of biotechs that have — over the years — made the choice to relocate to an urban center like downtown Bethesda. Northwest Biotherapeutics (OTCQB: NWBO) relocated twice within the Bethesda Central Business District (CBD) after moving from the Seattle, Washington area. The company is in phase 3 trials for its DCVax -L brain cancer treatment. Wellness Corporate Solutions, which made the Inc 500 back in 2013, grew quadruple digits in the CBD.
Real estate developers, Bethesda-based Stongeridge and Donohoe, have plans to build downotwn Bethesda’s first fully dedicated life sciences office building. The 175,000 10-story building would stand at the corner of Wisconsin Avenue and Battery Lane and block from NIH. The project would have an emphasis on medical lab space.