February 22, 2016
Applied Genetic Technologies Corporation opened its new facility last week in the first of four buildings that will comprise the new Foundation Park. AGTC offices were previously located in Progress Park, which is just across US 441 from its new home. The company has a ten-year lease on approximately half of the building space, which totals 40,000 square feet and houses 42 of its 50 employees. AGTC plans to hire ten more employees by June and another ten more within the next year.
Foundation Park will help to support the growing biotech industry in Alachua County by providing ample office space for the growing companies in the industry that require it—companies that would otherwise have to leave town to find appropriate lab and office space.
While Progress Park is considered a biotech park, an absentee landlord, difficult lease agreements and lack of overall space made it difficult for AGTC to stay there. The new location in Foundation Park, in addition to being larger, is a much more appealing work environment to new recruits and will make hiring new employees easier.
The company will be hiring from University of Florida and Santa Fe College, as well as from all over the country. Approximately 60% of the staff is in science and production, 20% is in regulatory and clinical jobs, and 20% is in administration and business.
AGTC develops gene therapies for the treatment of rare eye diseases and other genetic diseases, and was founded in 2001 from technology that was developed at the University of Florida. The company has received $91 million in venture capital and funding, an additional $91 million from public stock offerings, and $130 million from a licensing and collaboration agreement with Biogen, a company based out of Boston and a huge player in the biotech arena.
For more information on the company and its impact on the city, check out gainesville.com.
