REGENERON MOVES NEW JERSEY OFFICES TO BASKING RIDGE
New site can accommodate 90 employees
Tarrytown, NY (July 19, 2011) — Regeneron Pharmaceuticals, Inc. (Nasdaq: REGN) today relocated the New Jersey–based members of its clinical drug development program from the Somerset Corporate Center to new, larger offices in 110 Allen Road in Basking Ridge, New Jersey. The new 19,622 square foot space enables the Company to accommodate up to 90 people in its growing New Jersey program.
In recognition of the importance of job growth in the state, New Jersey’s Economic Development Authority awarded the Company a Business Employment Incentive Program (BEIP) grant for its former Bridgewater location, and an additional grant as it moves to the new offices in Basking Ridge.
“Regeneron is currently expanding its workforce across several functional areas,“ said Ross Grossman, Vice President of Human Resources at Regeneron. “With larger and more efficient office space in New Jersey, one of the premier locations for life sciences companies, we are able to bring more New Jersey residents with experience in pharmaceutical development onto our exciting and growing clinical development team.”
“We are very pleased that Regeneron is expanding its presence in New Jersey’s vibrant life science industry cluster,” said Timothy J. Lizura, Senior Vice President, New Jersey Economic Development Authority. “Regeneron is a key player in the growing biotechnology industry and they clearly see the value in New Jersey’s strong biotech and pharma eco-system to support their growth. Having Regeneron here contributes to the active opportunities for our highly-trained workforce.”
“The expansion in New Jersey supports the changing needs of a growing number of employees joining Regeneron’s Clinical Development Team,” notes Joanne Deyo, Vice President, Facilities.
“We’ve planned a seamless transition to our new location in Basking Ridge where we’ve been able to design the facility to match Regeneron’s unique culture and to support the Corporate branding being used in its R&D and corporate headquarters in New York.”
About Regeneron Pharmaceuticals
Regeneron is a fully integrated biopharmaceutical company that discovers, develops, and commercializes medicines for the treatment of serious medical conditions. In addition to ARCALYST® (rilonacept) Injection for Subcutaneous Use, its first commercialized product, Regeneron has therapeutic candidates in Phase 3 clinical trials for the potential treatment of gout, diseases of the eye (wet agerelated macular degeneration, central retinal vein occlusion, and diabetic macular edema), and certain cancers. Additional therapeutic candidates developed from proprietary Regeneron technologies for creating fully human monoclonal antibodies are in earlier stage development programs in rheumatoid arthritis and other inflammatory conditions, pain, cholesterol reduction, allergic and immune conditions, and cancer. Additional information about Regeneron and recent news releases are available on Regeneron’s web site at www.regeneron.com.