A home-grown biosciences company, Nature’s Toolbox will invest $30 million in a new facility in Rio Rancho, New Mexico. The company plans to hire 116 employees.
According to New Mexico Economic Development Department, NTx is working to commercialize its cell-free technology that will expedite the development and manufacturing of vaccines and pharmaceuticals using mRNA and protein technology, now being studied and utilized in the fight against COVID-19.
“We’ve known for a long time that manufacturing of pharmaceuticals, primarily of biologicals, needs to be modernized, vaccines, antibodies, insulin, and hormone and enzyme replacement therapies, it’s a massive effort and a long timeline,” NTx co-founder and president Alex Koglin said. “We truly believe we can provide the technology to replace their manufacturing.”
The city of Rio Rancho is the fiscal agent for the project at 7701 Innovation Way and is also supporting the expansion with up to $500,000 in local LEDA. The Local Economic Development Act award will be paid out in phases as NTx reaches economic development benchmarks as specified in the Project Participation Agreement.
The New Mexico Economic Development Department pledged $1.75 million to NTx when the company occupies and builds out a 25,000-square-foot office and manufacturing center at the Enchanted Hills Commerce Center. Another $3.25 million would be awarded to support future job growth and expansion of the facility's footprint to handle high-volume manufacturing and emergency response. The startup has outgrown its current space in Santa Fe and is on track to relocate and expand its workforce in early 2021.
“NTx is a company that launched in New Mexico and is now expanding in the state and adding high-paying jobs with assistance from LEDA,” Secretary Alicia Keyes said. “New Mexico has proven to be a recognized location for excellence in biosciences. The state investment in NTx will help build new partnerships in this industry and advance these innovative technologies."
NTx, an early stage biomanufacturing and bioinformatics company, has developed a proprietary host-independent biological manufacturing and development platform used for pharmaceutical drug discovery and manufacturing of biologicals to counter disease. The company's vision is to provide materials for a diverse product portfolio, to deliver solutions for difficult-to-make biologics, and to generate drug leads for clinical development, which counter infectious diseases and other health conditions that present a challenge to public health.
"NTx has developed revolutionary technology that will speed up the production, manufacturing and distribution of high quality vaccines and increase access to critical medicine across the globe," added Fred Shepherd, president and CEO of the Sandoval Economic Alliance. "They are a great example of the type of company that can grow and prosper in our community as we strive to become a leader in the bioscience industry. We look forward to continuing to work with them as they grow and expand in our community.”