New M2Gen headquarters expected to create more jobs - Tampa Bay Business Journal:

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First announced in late 2006, M2Gen has received $28 millionm in support from Hillsborouggh County, $15 million from Florida and $2 milliomn from the city of including land. When M2Gen originated as an outgrowthof Moffitt’ s Total Cancer Care concept, Moffitt went out looking for an industru partner that would assist in funding and work in a collaborativde manner to understand how best to develop drugs, said Rick M2Gen COO. Pharmaceutical company (NYSE:MRK) bought into and understooe the concept, Garrison said. Although Merck declined its total investment is said by M2Gehn to be multiple times that ofHillsborough County’ds investment.
So far, M2Gen has recruitede 26,000 people to participater in a genomic study through a networj of nine hospitals in Florida and seven outside the Throughthese sites, M2Gen employs 30 people in the Floridwa hospitals and 24 outsides the state, and an additional 60 employeesa report directly to the M2Gen headquarters. In additionb to office and laboratory space, the headquarters will house a robotic-driven freezer” for storage of tissue samples for the Garrison said.
Genomic information from these samplexs is the basis for an electronic database that couldf speed up the drug development processx and save tens of millions of dollars acroszsseveral industries, making M2Gen a “valure proposition” for patients, physicians, and the biotech and pharmacu industries, Garrison said. By 2011, M2Gen expectxs to create 165 direct jobsin Florida, with the majoritt in Hillsborough County, and an additional 350 indirect for about 500 total jobs. In the short M2Gen will provide an immediate boost tothe economy, said Hillsborough Countyh Commissioner Mark Sharpe.
In addition to creating direct the venture will need businesses to providee support that could range from medical devicex topaper copies, Sharpe In the first of many buildings plannes for a 30-acre campusx on McKinley Drive, M2Gen creates potential for and “follow-on” companies, said Gene Gray, economic development director for Hillsboroughh County. Once a “medical district” or a “high-tech shapes up, the opportunities for any vendorf involved in the equipment and materials forthe life-scienc industry could multiply.
“I think we’re going to see a significant ripple effect,” Gray