SOURCE: Tech Council of Maryland

Tech Council of Maryland

November 13, 2009 07:00 ET

MdBio Foundation Sells BioProcessing Center to Emergent BioSolutions

ROCKVILLE, MD--(Marketwire - November 13, 2009) - MdBio Foundation, Inc., an affiliate of the Tech Council of Maryland (TCM), announced today that it has sold its BioProcessing Center -- a biotechnology manufacturing facility in East Baltimore -- to Emergent BioSolutions, Inc. for $7.85 million. Emergent is a Maryland-based biopharmaceutical company focused on the development, manufacture and commercialization of vaccines and therapeutics that assist the body's immune system to prevent or treat disease.

"This private-public partnership has helped create the kind of innovative, high-tech jobs that we need to keep in Maryland and in America. These jobs have the power to keep our economy growing, while unlocking new treatments and cures to diseases that will save and improve lives," Senator Barbara A. Mikulski (D-Md.) said.

"The transaction between MdBio and Emergent will maximize the value of the BioProcessing Center by maintaining a bio-manufacturing infrastructure for Maryland's bioscience community, by enabling additional investment to be made in the Center and by ensuring that high paying industry jobs will remain in Maryland," said Maryland Governor Martin O'Malley.

"With funds generated by the sale, MdBio will continue its crucial mission to promote and support the bioscience community throughout our state," said J.J. Finkelstein, chair of MdBio Foundation, Inc. and president and chief executive officer of RegeneRx Biopharmaceuticals, Inc. "The Foundation's scholarship and educational programs, as well as its business advisory services, have been exceptionally well received by the bioscience community. We look forward to continuing these innovative programs and help make Maryland one of the premier bioscience communities in the world."

"The State of Maryland and the City of Baltimore were instrumental in providing assistance to finalize this transaction, and MdBio wishes to thank them for their efforts," added Mr. Finkelstein.

ABOUT MDBIO FOUNDATION, INC.

The MdBio Foundation, Inc. is a charitable and educational organization whose mission is to provide and support the State of Maryland's bioscience community through bioscience awareness, education and workforce development programs, including scholarships, post-doctoral conference and career expos, BioGENEius science competition and summer science camps. Since 2003, MdBio has operated the MdBioLab, an educational and well-known mobile bioscience laboratory that visits high schools throughout Maryland to educate youth on biosciences. Over the past six years, MdBioLab has held more than 2,800 classes with 55,000 students and 1,500 teachers. MdBio Foundation became an affiliate of the Tech Council of Maryland in 2006.

ABOUT EMERGENT BIOSOLUTIONS INC.

Emergent BioSolutions Inc. is a biopharmaceutical company focused on the development, manufacture and commercialization of vaccines and therapeutics that assist the body's immune system to prevent or treat disease. Emergent's marketed product, BioThrax® (Anthrax Vaccine Adsorbed), is the only vaccine licensed by the U.S. Food and Drug Administration for the prevention of anthrax disease. Emergent's development pipeline includes programs focused on anthrax, botulism, tuberculosis, typhoid, hepatitis B and chlamydia. Additional information may be found at www.emergentbiosolutions.com.

ABOUT TECHNOLOGY COUNCIL OF MARYLAND, INC.

The Technology Council of Maryland, Inc. (TCM) is the largest technology trade association serving the advanced technology and biotechnology communities of Maryland. TCM's mission is to advocate for the interests of the technology community, further the role of technology in the Maryland economy, and nurture an environment where technology companies can collaborate, grow and succeed. For more information, visit www.techcouncilmd.com.

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