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Maryland Governor Wes Moore announced that Korean biotechnology company Nature Cell is planning to open a manufacturing facility in Baltimore City.
The approximately 100,000-square-foot operation will be completed in two phases through 2031 and bring an estimated 500 new full-time jobs to the region.
Nature Cell does business in stem cells, cosmetics, and food and beverage development and manufacturing. The new facility will be operated by its subsidiary Nature Cell America, which plans to initially focus on knee osteoarthritis and Alzheimer’s stem cell research, clinical trials, and manufacturing investigational products. With expanded capacity for stem cell therapy research and development, the company hopes to produce an estimated one million doses of its product JointStem, an intra-articular stem cell injection, per year.
Nature Cell touted the Maryland Stem Cell Research Fund and the state’s life sciences workforce as key factors for choosing to locate in Maryland. The company will work jointly with Biostar, a Korean holding company that leads in stem cell technology, on this new subsidiary project.
To assist with project costs, the Maryland Department of Commerce is working to approve a $4 million conditional loan through Advantage Maryland. The Baltimore Development Corporation is providing a $400,000 conditional loan to assist the company with its operations, and Baltimore City will also assist in expediting permitting and public approvals for the project.
