Prelude Therapeutics Expands Operations in Wilmington, Delaware Area
10/30/2019
Prelude conducts research focused on key drivers of cancer cell growth, survival, and resistance. They currently have two clinical trials in progress, with more pre-clinical development candidates in the pipeline.
The company is outgrowing its current locations, split between the Delaware Innovation Space (located on the site of the former DuPont Experimental Station) in Wilmington, Delaware, and nearby overflow office space.
"As a company, we sincerely appreciate the continued support from the state of Delaware," said Prelude Therapeutics CEO, Kris Vaddi, Ph.D. "The Wilmington area provides an attractive location for hiring experienced and talented scientific, clinical and operational teams needed to build a successful biopharmaceutical company. We look forward to executing our drug discovery and development strategy to drive growth within the company over the coming years."
According to the Delaware Prosperity Partnership, to support the local growth of this innovative, Delaware-based biotech company, the Council on Development Finance (CDF) recently approved Prelude for a Performance Grant of $684,090 and a Capital Expenditure grant of $150,000 for a total of up to $834,090. Both would come from the Delaware Strategic Fund and both are contingent on Prelude meeting its hiring goals.
With the additional job growth, Prelude said its team will expand to a projected total of 81 employees by 2022. The new positions include professional scientists and skilled associates and will add approximately $5.5 million to its annual payroll.
Prelude began operations in 2016 with a handful of employees and has now grown to 32 people, drawing international attention for their innovative discoveries and attracting top pharmaceutical and biotech talent to Delaware.
"We're really pleased to support the expansion of Prelude, one of Delaware's most exciting and innovative start-ups," said Governor John Carney. "Prelude's decision to expand in Delaware reaffirms that our state is a great place for business of all sizes to put down roots, grow and create good-paying jobs."
Project Announcements
Kimberly-Clark Expands Aiken County, South Carolina, Distribution Operations
05/04/2025
Aerowerks Plans Gaffney, South Carolina, Manufacturing Operations
05/04/2025
Sweden-Based Troax Group Plans Portland, Tennessee, Manufacturing Operations
05/04/2025
Kimberly-Clark Corporation Plans Warren, Ohio, Manufacturing Operations
05/04/2025
Denmark-Based Novonesis Expands Salem, Virginia, Production Operations
05/04/2025
Polyvlies USA Expands Winston-Salem, North Carolina, Manufacturing Operations
05/04/2025
Most Read
-
Run a Job Task Analysis
Q4 2024
-
39th Annual Corporate & 21st Annual Consultants Surveys: What Business Leaders and Consultants Are Saying About Site Selection
Q1 2025
-
The Location Economics of Advanced Nuclear
Q1 2025
-
Why Workforce Readiness Can’t Wait
Q1 2025
-
Power, Policy, and Site Selection in 2025
Q1 2025
-
Is It Time to Start Planning for Quantum Data Centers?
Q1 2025
-
Top States for Doing Business in 2024: A Continued Legacy of Excellence
Q3 2024