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Athenex Plans $1.62 Billion In Drug Research-Advanced Manufacturing In Dunkirk And Buffalo, New York

Athenex will invest $1.62 billion in drug discovery and advanced manufacturing partnership, creating 900 jobs over the next ten years in Dunkirk and 500 jobs in Buffalo, New York.

Governor Andrew Cuomo said the major expansion of Athenex, which will create 1,400 jobs throughout Western New York, was made possible by a partnership with the SUNY Polytechnic Institute. It includes a major expansion of Athenex’s North American headquarters at the Conventus Building in Buffalo, as well as the creation of a state-of-the-art, 300,000 square foot manufacturing facility in Dunkirk, New York. The combined projects are expected to yield a $1.62 billion investment over ten years from Athenex, along with $225 million from New York State.

“Western New York’s economic transformation has captured the attention of companies and investors around the globe,” said Governor Cuomo. “The business development environment in and around Buffalo has made it clear to cutting-edge companies that this is the right place to put down roots and thrive. Whether it’s pharma-based development, medical research, clean technology or advanced manufacturing, this region is defined by incredible opportunities and potential for growth."

Athenex was founded at the University of Buffalo and expanded in 2003 with a ten-year funding stream committed by more than one hundred local business and medical leaders in upstate New York.

Dr. Johnson Lau, Athenex CEO/Chairman said: "We have been incredibly impressed by Governor Cuomo's leadership to attract significant new jobs within New York State. His commitment to economic development has successfully pereated an impressive ‘Open for Business’ culture we have not seen anywhere else. We also want to thank Dr. Alain Kaloyeros at SUNY Polytechnic Institute. This collective leadership in New York is accelerating the transformation of the State's economy into a global leader of next generation manufacturing across many industries. With this partnership, millions of cancer patients around the world will benefit from the oncology drugs made in New York."

According to the Governor’s Office, in Dunkirk the state will invest $200 million to create the High Pharmacy Oncology Manufacturing Facility, which Athenex will use to manufacture sterile high potency oncology drugs in a specialized, controlled environment for shipment around the world. A specialized plant such as this has not been built in North America in over 15 years. The facility will be located off Lake Shore Drive East (Rte. 5), just northeast of the Dunkirk city line. Athenex will invest a minimum of $1.52 billion in the High Pharmacy Oncology Manufacturing Facility and it will create 900 jobs in the Dunkirk area. The state will own the facility and tools purchased for it.

In addition in Buffalo, the state will invest $25 million to expand and improve the sixth floor of the Conventus Building on the Buffalo Niagara Medical Campus. Athenex will occupy 51,000 square feet under a long term lease for its North American Headquarters, a formulation product development center and a pilot plant, where oncology products are perfected and refined before the technology is transferred for large scale production in Dunkirk. Athenex will invest a minimum of $100 million and is expected to create a total of 500 jobs in Buffalo. The state will lease the 6th floor space and sublet it to Athenex for a ten-year term with an option by Athenex to add on an additional ten years.

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