GOVERNOR O’MALLEY CONTINUES “JOBS ACROSS MARYLAND” TOUR, TOURS MEDIMMUNE’S HEADQUARTERS, RESEARCH LABS

ANNAPOLIS, MD (October 19, 2010) – Continuing his “Jobs Across Maryland” tour today, Governor Martin O’Malley joined MedImmune executives on a tour of the Gaithersburg-based biopharmaceutical company’s research labs and global headquarters.  The company is in the process of expanding its research and development facilities to support a growing portfolio of new drug candidates.  MedImmune has been consistently expanding its presence in Maryland since the company’s founding in 1988, and anticipates hiring hundreds more new employees in the State over the next year.  MedImmune, which became the biologics unit of AstraZeneca in 2007, also has a manufacturing facility in Frederick and has 3,500 employees worldwide.

“MedImmune’s commitment to invest and expand in Maryland reaffirms the State’s position as one of the world’s leading locations for biotechnology innovation,” said Governor O’Malley. “Building on our BioMaryland 2020 initiative, Maryland continues to foster a supportive environment for innovative biotech companies like MedImmune and hundreds of others to ensure that we are well positioned for tomorrow’s economy. The important work that MedImmune is doing right here in Maryland is making important advancements against diseases impacting millions around the globe.” 

“MedImmune is proud of our long history of innovation and growth in the biotechnology arena, which has contributed positively over the years to Maryland’s economy,” said William C. (“Bill”) Bertrand, Jr., MedImmune’s Executive Vice President of Legal Affairs, General Counsel, and Corporate Compliance Officer.   “Maryland is a great place to call home for our business and our employees, who commit themselves every day to helping improve the lives of patients with unmet medical needs.”    

MedImmune is known as a company of firsts, with a number of significant accomplishments in the field of biotechnology, including the first monoclonal antibody approved by the FDA for an infectious disease, and the first innovation in flu vaccine delivery technology in 50 years in the form of a nasal spray.

In 2009, Governor O’Malley launched BioMaryland 2020, a 10-year, $1.3 billion strategy for moving Maryland’s bioscience industry forward. To date, more than $100 million has been spent, or approved for spending, on BioMaryland initiatives, not including $70 million in science and technology related infrastructure at the State’s universities and community colleges. One of the first key deliverables was the launch in September 2009 of the Maryland Biotechnology Center. Home to nearly 500 bioscience companies and 50 research-intense federal institutes and centers, Maryland is well positioned in the global bioscience industry and has been recognized by the Milken Institute as one of the top tier states highly specialized in overall bioscience development. Since the early 1990s, Maryland has focused on bioscience development and was one of the first states to develop a strategic plan for the industry.

In the past year, the O’Malley-Brown Administration has implemented an aggressive agenda of new and expanded programs to create jobs, retain jobs and improve the conditions that allow businesses large and small to create and save jobs, including: 

·         Increasing the biotech tax credit to $8 million in fiscal year 2011;

·         Pioneering the Jobs Creation and Recovery Tax Credit;

·         Expanding the Small Business Loan Guaranty program to increase access to credit; and

·         Creating InvestMaryland, an administrative and legislative proposal designed to support the growth of the state’s knowledge based industries by stimulating investment in the Maryland Venture Fund.