The company will invest over $80 million in the 174,000-sq-ft facility, located in Research Triangle Park. The site will house four 1,000-L bioreactors with space for further expansion. The site will create more than 200 jobs in the area and will be operational by the end of 2023.

Adverum will receive $9 million in state and local incentives to expand into North Carolina, including a job development investment grant, which provides $3 million over 12 years.

Adverum is a clinical-stage gene therapy company. Its lead candidate, ADVM-022, is a one-time intravitreal injection for the treatment of patients with wet age-related macular degeneration and diabetic macular edema.

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