Vericel Corporation (NASDAQ: VCEL) has announced the signing of a long-term lease contract for a new ultramodern advanced cell therapy production facility and corporate headquarters at the Network Drive campus in Northwest Park, Burlington, Massachusetts.
The new facility has 125,000 sq. ft. of manufacturing, laboratory and office space
This new facility, having roughly 125,000 sq. ft. of production, lab, and office space, will substantially increase Vericel’s cell therapy production capacity to support MACI (autologous cultured chondrocytes on porcine collagen membrane) and Epicel long-term growth (cultured epidermal autografts). The Network Drive plant is scheduled to be finished in 2024, and commercial operations will start in 2025. Current LEED Gold and Fitwel Level 2 designations apply to the Network Drive Campus, and the proposed facility will be part of the certifications.
CEO Nick Colangelo stated, “We expect to sustain our strong long-term revenue growth for many years given our highly innovative products, significant barriers to entry and large underpenetrated markets. This important manufacturing expansion plan represents another major milestone for the company and demonstrates our confidence in the continued growth trajectory of MACI and Epicel in the years ahead.”
Colangelo added that they are also thrilled to be building their new facility on a site dedicated to producing and maintaining environmentally friendly rental properties in the Boston area, ensuring that the company continues to have access to the world-class talents and infrastructures that are crucial to its long-term success.
Vericell offers two therapy products, MACI and Epicel, in the US
Vericel sells two cell treatment products MACI (autologous produced chondrocytes on porcine collagen membrane) is an autologous cellularized scaffolding for the treatment of symptomatic, multiple or single full-thickness cartilage lesions of the knee in humans, with or without bones involvement. Epicel (cultured epidermal autografts) is a new skin substitute for patients who have profound dermal or complete thickness burns that cover more than 30% of their body surface area. NexoBrid, an enrollment-phase biological orphan medicine for regeneration of severe thermal burns, is also licensed exclusively in North America by the business.
