Seattle pharma company eyes Boulder Valley for expansion

Seattle

Umoja Biopharma Inc., a Seattle-based cancer therapy developer, could expand east as the company moves into new manufacturing facilities in Boulder Valley.

A tax and fee reduction application filed in Louisville suggests Umoja has its eye on industrial locations at the Colorado Technology Center, as well as alternatives in Longmont, Broomfield and Westminster.

The company could take over approximately 150,000 square feet at 725 Tech Court at CTC, according to a Louisville city memo.

A decision on a lease for this location is expected by August, with the aim of completing the first phase of tenant fit-out by next May.

Umoja, whose representatives did not respond to requests for comment on Monday, could employ up to 100 people over the next five years, earning an average of about $ 160,000 a year, according to the application of the Business Assistance Package.

Louisville City officials recommend a 50% discount on building permit fees and land use taxes and a 40% discount on consumer taxes over a five-year period. These discounts are expected to total $ 1,325,717.

Umoja’s manufacturing facility could result in significant investments in the CTC. According to city documents, the company expects to reach more than $ 44 million in on-site tenant improvements and equipment and capital expenditures over $ 70 million over the next five years.

Outside of Louisville, Umoja is considering manufacturing space on the former Maxtor campus in Longmont (an industrial park now marketed as The Max), baseline development in Broomfield, and the Park 12 Hundred Tech Center in Westminster.

Umoja, founded in 2019, is developing therapeutic technologies “to reprogram immune cells in vivo to develop next-generation immunotherapies for the treatment of solid tumors and hematological malignancies,” the company said in a press release.

In June, the company closed a $ 210 million Series B funding round from Japanese investment giant SoftBank Group Corp.

The funding will help the company “move into clinical development and build in-house manufacturing capabilities to support the preclinical and clinical development of its pipeline programs,” the press release said.

In addition, the Series B money will allow the company to add hires and facilities by “adding a manufacturing facility in Boulder to its presence,” the press release said. Presumably this is an indication of the possible expansion in Louisville, Longmont, Broomfield or Westminster.