Rochester, N.Y. May 15, 2001 – Vaccinex Inc. to Expand and Invest $8.8 Million as it Moves to Larger Facility
Governor George E. Pataki today announced that Vaccinex, Inc. will create 78 new biotechnology jobs in Rochester, Monroe County. The company will invest $8.8 million as part of its move into a 33,000 square-foot high- tech facility at 1895 Mount Hope Avenue.
"In just a few short years, Vaccinex has grown from a small local operation to a full-fledged leader in the field of biotechnology," Governor Pataki said. "These new jobs are a great illustration of how our efforts to foster the growth of high-tech and biotechnology firms are paying major economic dividends for the Rochester area and our entire State.
"We are making major investments in our research laboratories and academic institutions, because these facilities serve as magnets in attracting new and emerging technology companies to New York State," the Governor said. "Since 1995 we've made more than $730 million in technology- related investments, and this year I've initiated the $1 billion Centers of Excellence plan to make our State an international leader in high-tech and biotech research and economic growth."
Vaccinex's mission is to develop and commercialize therapeutic antibodies and broadly effective vaccines against human cancers and selected infectious diseases. The company hopes to discover these vaccines through the use of technologies it developed that select specific human antibodies and identify immune target molecules.
Dr. Maurice Zauderer, CEO of Vaccinex, said, "Rochester is a great place for biotechnology -- with the availability of a highly educated workforce including Ph.D.-level scientists and technically trained graduates that will drive growth of this company. Other companies we talk to are very appreciative of our ability to rapidly recruit qualified personnel in almost any area in which we identify a need. The system of higher education in New York State, including the University of Rochester, is an indispensable foundation for technological growth."
State Senator Michael F. Nozzolio said, "Vaccinex's significant investment in the Rochester economy is further proof that Governor Pataki's economic initiatives are working to create new jobs and stimulate additional business growth in Monroe County and the Greater Rochester region. This announcement is another part of the Governor's efforts to make Rochester a leader in the high technology and biotechnology fields."
Senator George D. Maziarz said, "With the State's attention focused on developing its biotechnology resources, the timing is perfect for Vaccinex to expand its operations in Monroe County. Governor Pataki's foresight is assisting this industry of the future of today will have tremendous long term benefits for New York State."
Senator Jim Alesi said, "Time and again, we have heard this kind of good news in Rochester and all across New York State since Governor Pataki led New York out of its economic doldrums. His vision and policies have carried our State into a leadership position and worldwide recognition as a premiere place for biotech, high-tech, and job growth in general. As Chairman of the State Committee on Commerce, Economic Development and Small Business, I am proud of Governor Pataki and am confident that he will continue to propel New York State economy into a world class status with world class high-tech companies."
Assemblyman Charles H. Nesbitt said, "Thanks to the ongoing commitment of Governor Pataki this is another positive step in the growth of the Rochester area as a technological center of excellence. I am pleased that Vaccinex is creating these new high quality jobs that will benefit our Western New York economy."
Assemblyman Joseph A. Errigo said, "Under the continued leadership of Governor Pataki, New York State has emerged as a leader in the fields of biotechnology and high-tech research. The biotechnology industry has been identified as one of the most promising opportunities in our State for job growth and regional economic development. The 78 new biotechnology jobs created by Vaccinex will help ensure our local economy continues to benefit from this critical industry."
Monroe County Executive Jack Doyle said, "The Biotech field is one of our key strategic areas for economic and job growth. Governor Pataki and Empire State Development have proven that they know what it takes to keep and expand employers in our state and today's announcement is living proof that New York means business. Monroe County's number one priority is to recruit, retain and expand local employers and with partners like Governor Pataki and growing local firms like Vaccinex we continue to look forward to a bright future."
Charles A. Gargano, Chairman of Empire State Development, said, "Vaccinex's long-term objectives include R&D that may someday lead to the creation of cancer vaccines. There is no better place than New York State for Vaccinex to work on advancements in biomedical research and biotechnology development. We boast the nation's brightest workforce and a strong leader in Governor Pataki, who is wisely investing in our biotech and high-tech infrastructure to firmly establish New York as a prime location for emerging industries."
Vaccinex currently employs 12 employees at its research space in Strong Memorial Hospital. The company will begin to move its operations in October 2001 to its new facility on Mount Hope Avenue. The 78 new jobs will be created during the next three years.
The Governor unveiled his Centers of Excellence plan in the 2001 State of the State address in January. As outlined in the Executive Budget, the plan would fund Centers in Albany, Rochester, Buffalo, Long Island, and elsewhere to directly link university researchers with business and industry leaders to position New York State at the forefront of critical new economic growth in the most advanced areas of high-technology and biotechnology.
Vaccinex, established in 1997, was a limited partnership until the end of April 2001, when it converted into corporation status in anticipation of receiving major contracts from pharmaceutical and other biotech customers for its contract manufacturing and discovery services. Additional information on Vaccinex and its employment opportunities can be found on the internet at www.vaccinex.com.
In consideration of its commitment to New York State's economic future, Vaccinex is eligible to apply for a $200,000 capital grant from Empire State Development towards the costs of equipment purchases and investments at the new facility.
http://www.state.ny.us/governor/press/year01/may15_1_01.htm