Durham-based drug-development company Argos Therapeutics is expanding its operations to N.C. State University’s Centennial Campus, where it plans to invest $10 million and create 70 new jobs over the next few years.
The hiring and investment plans of Argos, which today has 122 employees, were announced Monday by several economic development groups at the local and state level.
Argos has leased 40,000 square feet of space at Centennial Campus from a subsidiary of Raleigh-based real estate development firm Keystone. That space will mostly be used for production but also will house some research and development work.
Leasing the facility “is a critical step on our path towards becoming a fully-integrated commercial-stage biotechnology company,” Argos CEO Jeff Abbey said in a statement included in the announcement.
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Argos is developing an experimental medicine to treat advanced renal cell carcinoma and expects clinical trial results in the first half of this year.