Salt Lake City, UT – February 7, 2019 – DiscGenics, Inc., a clinical stage biotechnology company focused on developing regenerative cell-based therapies that alleviate pain and restore function in patients with degenerative diseases of the spine, is expanding their operations in Salt Lake City.
The Company has been located at the University of Utah’s Research Park since 2012. Their expansion will take them to an approximately 25,000 sq. ft. space near the Northwest Quadrant where they intend build a research and development facility along with manufacturing operations. DiscGenics currently employs 22 people, and expects to hire an additional 28 employees once its non-surgical treatment for degenerative disc disease (DDD), goes to market. Construction plans are being developed and the Company is preparing to move into its new space in the first half of 2019.
“With our current employees spanning a wide part of Utah, Salt Lake City’s central location was key in our decision to expand within the capital city,” says Flagg Flanagan, Chairman and CEO of DiscGenics. “In addition, we intend to fulfill all of our shipping needs from a single location, so being within SLC’s manufacturing, logistics and distribution hub was critical to our location selection.”
SLC DED also had a role in assisting DiscGenics with their expansion efforts. Team members linked the Company to key personnel to drive their expansion forward, and provided financing options within the city.
SLC Economic Development Director Lara Fritts says, “I love seeing companies like DiscGenics, with their incredible innovation and growth, expand in Salt Lake City.” Fritts adds, “We often talk about what a strategic location SLC is, the resources we can provide through the city, and our incredible partnerships that can help to fill the gaps. I know DiscGenics will see continued success calling the capital city home.”
DiscGenics is conducting a prospective, randomized clinical trial in the U.S. of its injectable disc cell therapy, or IDCT. In addition, the Company is preparing to commence clinical evaluation of IDCT in Japan next quarter. The purpose of these studies, which have been allowed by the U.S. Food and Drug Administration (FDA) and Japanese Pharmaceuticals and Medical Devices Agency (PMDA), respectively, is to evaluate the safety and preliminary efficacy of IDCT for the treatment of DDD.
DiscGenics is a privately held, clinical stage biotechnology company focused on developing regenerative cell-based therapies that alleviate pain and restore function in patients with degenerative diseases of the spine. DiscGenics is harnessing the restorative potential of cells native to the intervertebral disc to develop what we hope will be a profound therapeutic option for millions of patients suffering from the debilitating effects of back pain. DiscGenics’ first product candidate, IDCT, is a homologous, allogeneic injectable cell therapy that utilizes proprietary Discogenic Cells to offer a non-surgical, potentially regenerative solution for the treatment of patients with mild to moderate degenerative disc disease.
About Salt Lake City Department of Economic Development
Formed in 2016, under the leadership of Mayor Jackie Biskupski, Salt Lake City’s Department of Economic Development is focused on building Salt Lake City as a vibrant, beautiful, prosperous, diverse, and authentic place – a place that is economically accessible to everyone. Known as the “Crossroads of the West,” Salt Lake City is strategically located for businesses to succeed. SLCDED works to streamline processes, provide excellent customer service, and offer an array of resources and services to recruit and retain businesses in the City, and ensure they have the tools to thrive.