Nov 16, 2021

Fishers-Based Biotech Startup Expanding Footprint in Indiana’s Growing Entrepreneurial Ecosystem

Genezen, a cell and gene therapy Contract Development and Manufacturing Organization (CDMO), announced plans today to invest $40 million to expand operations in Fishers, creating up to 62 new high-wage jobs by the end of 2023.

"Genezen is another example of how Indiana’s business climate and quality workforce are well-established and suited to propel biotech companies to success, creating an economy of the future,” said Indiana Secretary of Commerce Brad Chambers. “Attracting innovative companies that are developing technologies of tomorrow and creating forces of change for people around the world is exactly what Indiana wants to attract and retain across the state. I’m excited to support Genezen through all its growth and success.”

Fishers-based Genezen will invest $40 million to lease and upgrade its cGMP lentiviral and retroviral vector production facility. The multiphase 75,000+ square-foot facility expansion at Westpoint Drive is underway, with ongoing cGMP cleanroom buildout and recent completion of additional process development laboratory space in an initial 25,000 square-foot footprint.

Based on the company’s job creation plans, the Indiana Economic Development Corporation committed an investment in Genezen Laboratories Inc. of up to $950,000 in the form of incentive-based tax credits. The IEDC will also offer up to $50,000 in training grants. These tax credits are performance-based, meaning the company is eligible to claim credits once investments are made and employees are hired and trained. The Fishers City Council approved additional incentives during its November 15 City Council meeting.