7
/ Wednesday, June 8, 2022
New scientific research and development incubator in Aguadilla There are only five other gene and cell therapy hubs in the U.S.
O
Department of Economic Development and Commerce Secretary Manuel Cidre (right) and OcyonBio CEO and cofounder Robert Salcedo.
Juan A. Hernández, The Weekly Journal
cyonBio, a pharmaceutical research and development (r&d) facility in Aguadilla slated for inauguration by the end of the year, expects to become the sixth gene and cell therapy hub in the U.S., researching and producing therapy medication for several cancers and other pernicious diseases. Biosimilar Solutions, a bioequivalent “When we are done [building], our clients and manufacturer, is already a signed client of OcyonBio we are going to be developing oncology products and is expected to be among the first companies, if and CNS (products to diagnose, assess stage and not the first, to start operations before the end of treatment of the disease) for several types of cancer. the year in the Aguadilla facility. A considerable number of products that we’ll be producing here will attack some form of cancer,” said The Wave Of The Future Robert Salcedo, CEO and co-founder of OcyonBio. For Salcedo, the future of the pharmaceutical Salcedo explained the company will cater to the industry in Puerto Rico is not in the manufacturing needs of its prospective clients via a dual model of of medicines anymore. business. OcyonBio will provide all the necessary “If you look at the tablets, capsules and ointments facilities for any pharmaceutical company to [that are still being manufactured in Puerto Rico], research and develop possible gene and cell therapy they are dying because they can’t make it… they products, from laboratory space, equipment, testing can’t compete. They [other pharmaceutical plants] facilities and science personnel to production of can make those in China for half a penny,” Salcedo the finished product. On the other hand, these argued. “I think the future of Puerto Rico lays in companies could opt to bring its own scientists and its increasing capabilities for researchers to use the facilities. biotech and the increasing “OcyonBio will bring in clients possibilities of the new cell with an initial idea and clients biology, which is gene-cell ready for the commercial stage. therapy.” Of course, most of our clients Salcedo further argued fall somewhere in the middle of There are four that r&d in the gene and cell that, so we are providing them gene and cell therapy therapy field now offers a with what I call a ‘compliance hubs in the U.S. strong incentive for Puerto envelop,’ through which they —Boston, San Diego, Rican scientists wanting to do can take their products to the San Francisco and “real hardcore science” in the clinic, through the Food and Austin. fields of biology, chemistry, Drug Administration (FDA) or pharmaceutical and engineering into the commercial avenue, as to stay on the island. a standard commercial product,” “Up until now, there was Salcedo explained. no place in Puerto Rico where According to the these professionals were able to do real, hardcore pharmaceutical executive, there are only four science. They were destined to make widgets [a gene and cell therapy hubs in the U.S. — Boston, manufactured product]. Don’t get me wrong, Amgen, San Diego, San Francisco and Austin— and a fifth AbbVie and BMS [Bristol-Myers Squibb] are fantastic currently under construction in Philadelphia. “We companies to work for, but if you really want to do want to be the sixth,” he said. science, you want to be in the early stages of the r&d “Once the design and construction phases process,” said the former Amgen executive. are completed, we could host up to 25 different Salcedo admitted that one of the reasons for companies operating within our campus. From establishing the company in Aguadilla is because r&d, to production, emphasizing on gene and cell of its closeness to the University of Puerto Rico, therapies and the manufacturing of biosimilar Mayagüez Campus, which produces many of the products,” Salcedo said.
In fact,
I think the future of Puerto Rico lays in its increasing capabilities for biotech and the increasing possibilities of the new cell biology. Robert Salcedo CEO and cofounder, OcyonBio
island’s top scientists and engineers. “I’m committed to hiring all the scientists graduating from Mayagüez [Campus] for the next three to five years. If they want to stay, they’ll have a job here,” he said. The OcyonBio exec met with Mayagüez class of 2022 about three weeks ago and presented all the grads with a job offer. “It will be up to them to accept the offer or not.” Salcedo estimates there will be about 150 employees working at OcyonBio by the end of the year, among them several expats that have been looking to come back to Puerto Rico.
Investment
OcyonBio has already invested $50 million in its Aguadilla facility and plans to invest $128 million before the year’s end to start operations. An additional $40 million would be invested in 2023. Salcedo admitted Biosimilar Solutions did receive a $22 million tax incentive from the Puerto Rico’s government. A similar incentive for OcyonBio is still being negotiated with the government. “We are going to invest $165 million upfront. After that investment, we estimate some $200 million in revenues for the first year. But those revenues will be a mix of the construction of the facilities, and the services provided,” Salcedo said.
