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State Seal Kentucky Cabinet for Economic Development
Biotechnology Corporation Expands in Lexington
Press Release Date:  November 22, 2004
Contact: 

Mandy Lambert (502) 564-7670

 

 

Biotechnology Corporation Expands in Lexington

Company will move its research and development center to Coldstream Research Park

Frankfort, Ky. – Governor Ernie Fletcher and Economic Development Cabinet Secretary Gene Strong today announced the expansion of Immpheron, Inc., a startup private biotechnology corporation based in Lexington. The company plans to move its existing laboratory on Nicholasville Road to a newly constructed research and development center in Coldstream Research Park. The expansion is expected to result in the creation of 15 new jobs for Kentuckians.

"Biotechnology is an extremely important factor in the New Economy, and Coldstream Research Park has excellent industrial infrastructure to support this expansion," said Governor Fletcher. "I am honored that Immpheron, Inc. has made the decision to expand in Lexington, as it will assist Kentucky in pursuing and achieving greatness in the biotechnology field."

Immpheron, Inc. began at the R&D level developing technologies to improve certain protein drugs (antibodies) for diagnostics and therapy of chronic diseases. Funding for Immpheron’s research and development activities is being provided by InNexus Biotechnology, Inc., a Canadian public company. InNexus and Immpheron are setting the stage for producing secondary antibodies for diagnosis kits, R&D research for upcoming therapeutic antibodies, and pursuing further contract work for other out of state companies.

"We are enthusiastically welcoming the opportunity to expand our operations in Lexington, Kentucky together with InNexus Biotechnology," says Sybille Muller, Vice President of Immpheron, Inc. "The recognition and help for our project by the Kentucky Cabinet for Economic Development will be instrumental in this venture."

"Immpheron is a great match for the Coldstream Research Campus. We are delighted they have chosen us as their new location and appreciate the efforts of Commerce Lexington in assisting the company and the support of the Commonwealth in making it happen," said John Parks, Director of the research park.

The Kentucky Economic Development Finance Authority preliminarily approved Immpheron, Inc. for tax benefits under the Kentucky Jobs Development Act (KJDA), an incentive program aimed at increasing the number of service- and technology-related jobs in the state. A community profile for Fayette County may be found at the following link: http://www.thinkkentucky.com/edis/cmnty/cw053/Location.htm.

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The Kentucky Cabinet for Economic Development is the primary state agency in Kentucky responsible for creating new jobs and new investment in the state. New business investment in Kentucky in 2003 totaled more than $1.56 billion with the creation of just over 13,800 new jobs. Information on available development sites, workforce training, incentive programs, community profiles, small business development and other resources is available at www.thinkkentucky.com.






 

Last updated: Tuesday, November 23, 2004