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Altimmune moving to new headquarters

Altimmune, a Montgomery County-based biotechnology company, is moving to larger headquarters to accommodate new employees and anticipated growth following its merger with like-minded Annapolis firm PharmAthene.

The company is expected to move into its new, 14,000-square-foot facility at 910 Clopper Road in Gaithersburg, early next year.

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Altimmune and PharmAthene, both which are developing anthrax drugs,announced plans to merge in January.

Under the deal, PharmAthene is relocating to Gaithersburg, and the company will trade publicly as Altimmune.

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The new space will house Altimmune's 14 full-time employees, plus about five PharmAthene employees making the move.

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The company expects to add up to 45 jobs over the next four years.

"Our move and expansion marks an important milestone in the company's history and signals our continued commitment to building a fully integrated and diversified immunotherapeutics company," Bill Enright, CEO of Altimmune, said in a statement.

Altimmune is developing immunotherapy drugs, such as a recombinant flu vaccine administered nasally, a treatment for hepatitis B, and an anthrax vaccine.

The move is supported by a $150,000 conditional loan from the Commerce Department and a $100,000 grant from Montgomery County's Economic Development Fund.

Altimmune is also eligible for a grant of up to $50,000 from Gaithersburg, plus other state and local tax credits.

sarah.gantz@baltsun.com

twitter.com/sarahgantz


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