MOUNTAIN VIEW, Calif. and
RICHMOND, Va., May 3, 2021 /PRNewswire/ -- Aditxt (Aditx
Therapeutics, Inc.) (Nasdaq: ADTX), a biotech innovation company
focused on improving the health of the immune system, today
announced plans to build a high-capacity AditxtScore™ Center in
Richmond, VA in the second half of
2021. Aditxt is targeting a capital investment of $31.5 million over three years to scale up its
state-of-the-art immune monitoring center, including projected new
jobs, laboratory equipment, and construction. The announcement was
made at a joint press conference with Governor Ralph Northam, Richmond Mayor Levar
Stoney and other local business executives and political
officials.
The new immune monitoring center is being developed to increase
processing capacity for the company's flagship AditxtScore™, a
pioneering new approach to immune health monitoring that provides a
comprehensive profile of the immune system. By assessing an
individual's immune biomarkers, AditxtScore™ will be able to
measure indications of immunity to specific disease. AditxtScore™
applications include the recently commercialized AditxtScore™ for
COVID-19, developed for use in detecting antibodies and
neutralizing antibodies against SARS-CoV-2 antigens. Other
applications under development include, among others, predicting
dynamic monitoring of the immune system in infectious and
autoimmune diseases, organ transplantation, and
allergy.
Amro Albanna, co-founder and CEO
of Aditxt, commented, "Richmond is an ideal location for our first
high-capacity AditxtScore Center given its skilled workforce,
location, and infrastructure. As we begin rolling out the
AditxtScore platform and applications for immune monitoring, the
establishment of an AditxtScore Immune Monitoring Network is vital
to realizing our full vision for AditxtScore, which is to transform
how we monitor the immune system from reactive testing to proactive
monitoring. We look forward to working with the community to
complete this important step in the execution of Aditxt's strategic
plan, and we are grateful to the Commonwealth of Virginia, Governor Northam, his team, and all
involved for their support and welcoming reception."
Aditxt expects to create more than 300 new jobs over the next
three years to increase AditxtScore™ processing capacity up to a
projected 10 million reports annually in efforts to provide more
access to individuals to monitor and understand their immune
profiles. The company will occupy 25,000 square feet of BioTech 8
in the Virginia Bio+Tech Park, a campus of Activation Capital, with
plans for future expansion.
"The Richmond region has
emerged as a hub for cutting-edge biotech companies, and this
thriving industry will be bolstered by the addition of Aditxt's
Immune Monitoring Center," said Governor Northam. "The Virginia
Bio+Tech Park is an ideal location for the company to continue its
groundbreaking work to improve the health of our communities and
help us better understand our own immune systems—something that has
become extremely important over the past year. We are honored to
welcome Aditxt to the Commonwealth, and we thank the company for
creating more than 300 well-paid jobs for the people of
Virginia."
Support for Aditxt's job creation will be provided through
the Virginia Talent Accelerator Program, a workforce initiative
created by VEDP in collaboration with the Virginia Community
College System and other higher education partners, with funding
support from the Northam Administration and the Virginia General
Assembly. Launched in 2019, the program accelerates new facility
start-ups through the direct delivery of recruitment and training
services that are fully customized to a company's unique products,
processes, equipment, standards, and culture. All program services
are provided at no cost to qualified new and expanding companies as
an incentive for job creation.
About Aditx Therapeutics
Aditxt is developing
technologies specifically focused on improving the health of the
immune system through immune monitoring and reprogramming. The
immune monitoring technology is designed to provide a personalized
comprehensive profile of the immune system. The immune
reprogramming technology is currently at the pre-clinical stage and
is designed to retrain the immune system to induce tolerance with
an objective of addressing rejection of transplanted organs,
autoimmune diseases, and allergies. For more information, please
visit: www.aditxt.com
Forward-Looking Statements
Certain statements in this
press release constitute "forward-looking statements" within the
meaning of federal securities laws. Forward looking statements
include statements regarding the Company's intentions, beliefs,
projections, outlook, analyses or current expectations concerning,
among other things, the Company's ongoing and planned product and
business development; the Company's intellectual property position;
the Company's ability to develop commercial functions; expectations
regarding product launch and revenue; the Company's results of
operations, cash needs, spending, financial condition, liquidity,
prospects, growth and strategies; the industry in which the Company
operates; and the trends that may affect the industry or the
Company. Forward-looking statements are not guarantees of future
performance and actual results may differ materially from those
indicated by these forward-looking statements as a result of
various important factors, as well as those risks more fully
discussed in the section titled "Risk Factors" in the Company's
most recent Annual Report on Form 10-K, as well as discussions of
potential risks, uncertainties, and other important factors in the
Company's other filings with the Securities and Exchange
Commission. All such statements speak only as of the date made, and
the Company undertakes no obligation to update or revise publicly
any forward-looking statements, whether as a result of new
information, future events or otherwise.
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SOURCE Aditxt