STOCKHOLM, Sweden, June 5, 2014 (GLOBE NEWSWIRE) -- Swedish Orphan Biovitrum AB (publ) (Sobi) today announced that the Company has decided to establish its North American operations in Waltham, Massachusetts. Sobi had originally set up its US affiliate in 2012 in Ardmore, Pennsylvania. Sobi's office will open on 16 June 2014.
"We are strengthening our focus in the United States and Canada, and building our team in the Boston area will allow us to better address the needs of patients and healthcare providers in the region, " said Geoffrey McDonough, CEO and President, Sobi. "In particular we are delighted to partner and collaborate with the Massachusetts Life Sciences Center as we build and grow."
"Thanks to our growth strategy of investing in education, innovation and infrastructure, Massachusetts continues to lead the world in life sciences," said Governor Deval Patrick. "We welcome Sobi to Massachusetts and look forward to their contributions to our thriving life sciences community."
Sobi is a pioneer in biotechnology with world-class capabilities in protein biochemistry and biologics manufacturing. In North America, the Company mainly focuses on inflammatory, genetic, and metabolic diseases. Recently Sobi assumed direct responsibility for the commercialization of its proprietary product, Orfadin in North America. Orfadin is the only FDA approved therapy for use as an adjunct to dietary restriction of tyrosine and phenylalanine for the treatment of hereditary tyrosinaemia type 1 (HT-1).
"We are establishing our North American head office in Waltham as we recognize Massachusetts being one of the largest concentrations of biotech activity in the world. The region has established a broad-based biotech industry segment, and with Massachussetts as a major driver for global biotechnology innovation there is a strong talent pool here," said Rami Levin, Vice President North America, Sobi. "This also offers us the opportunity to collaborate with some of the finest research institutions and universities in the world."
Sobi worked closely with the Massachusetts Life Sciences Center as they developed their plans for their Massachusetts office.
"On behalf of the Center, I would like to extend a warm welcome to the team at Sobi as they relocate their North American operations to Massachusetts," said Susan Windham-Bannister, Ph.D., President & CEO of the Massachusetts Life Sciences Center, the agency charged with implementing Governor Patrick's 10-year, $1 billion Life Sciences Initiative. "Sobi is an excellent addition to a growing cluster of local companies that are working to improve the lives of patients with rare diseases. We are excited that Sobi has chosen Massachusetts and look forward to partnering with them as they grow their business here."
Sobi is an international specialty healthcare company dedicated to rare diseases. Our mission is to develop and deliver innovative therapies and services to improve the lives of patients. The product portfolio is primarily focused on Inflammation and Genetic diseases, with two late stage biological development projects within Haemophilia. We also market a portfolio of specialty and rare disease products for partner companies. Sobi is a pioneer in biotechnology with world-class capabilities in protein biochemistry and biologics manufacturing. In 2013, Sobi had total revenues of SEK 2.2 billion (€253 M) and about 550 employees. The share (STO: SOBI) is listed on NASDAQ OMX Stockholm. More information is available at www.sobi.com.
About the Massachusetts Life Sciences Center
The Massachusetts Life Sciences Center (MLSC) is an investment agency that supports life sciences innovation, research, development and commercialization. The MLSC is charged with implementing a 10-year, $1-billion, state-funded investment initiative. These investments create jobs and support advances that improve health and well-being. The MLSC offers the nation's most comprehensive set of incentives and collaborative programs targeted to the life sciences ecosystem. These programs propel the growth that has made Massachusetts the global leader in life sciences. The MLSC creates new models for collaboration and partners with organizations, both public and private, around the world to promote innovation in the life sciences. For more information, visit www.masslifesciences.com.
MLSC Disclaimer: This announcement is not intended to be a commercial endorsement of any products or services provided or developed by the entities referenced in this release.
For more information please contact
|Sobi Media relations||Sobi Investor relations|
| Oskar Bosson |
Head of Communications
| Jörgen Winroth |
Vice President, Head of Investor Relations
|T: +46 70 410 71 80||T: +1 347-224-0819, +1 212-579-0506, +46 8 697 2135|
Vice President for Communications & Marketing
Massachusetts Life Sciences Center
Tel: (617) 921-7749
The above information was released for public distribution on 5 June 2014, at 08:00 CET.
Sobi Establishes North American Office in Massachusetts http://hugin.info/134557/R/1790834/615823.pdf
Source:Swedish Orphan Biovitrum AB(publ)