University of Maryland BioPark Welcomes Paragon Bioservices, Inc. as new tenant in Building Two

Baltimore
(March , 2009)

The University of Maryland BioPark today announced that Paragon Bioservices, Inc., a Baltimore-based contract research and manufacturing organization, has become a tenant in the BioPark’s Building Two.  Paragon’s expansion into the University of Maryland BioPark will more than double its current operating space to 21,000 square feet of state-of-the-art GMP, pre-clinical laboratories and office space.  Paragon expects to double its staff by the second quarter of 2009 and projects to reach 70-75 employees by 2010. 

"We are pleased to announce Paragon as the latest in a growing list of new tenants at the BioPark," said Jim Hughes, President of the University of Maryland BioPark.  "Paragon will be a welcome addition as they will serve the growing needs of our current and future tenants."

"Paragon is eager to expand its presence at the University of Maryland BioPark, where we will be providing research services as well as GMP production of Phase I/II therapeutic proteins, reagents for diagnostics, and candidate vaccines, " said Marco A. Chacón, PhD, President / CEO of Paragon Bioservices and Chairman of IRAZÚ BioDiscovery, LLC – a Regenerative Medicine Company that is also a part of the BioPark.

Chacón added, “We are proud to be part of this exciting convergence of leadership from the University, commitment on the part of the developer, Wexford Science+Technology, financial support from our bank (M&T), and other incentives from the City of Baltimore and the State of Maryland.  Furthermore, Paragon will do its part in providing vision and entrepreneurship, employment opportunities for young scientists and engineers, as well as continuing to promote the economic development of our communities.”

About Paragon Bioservices, Inc.
Founded in 1990, Paragon is currently located at the Johns Hopkins Bayview Research Campus.  Paragon’s mission is to partner with pharmaceutical and biotechnology companies, as well as academic laboratories, in accelerating the discovery and development of biopharmaceuticals. Paragon has anticipated the outsourcing needs of these sectors and has worked diligently in structuring an integrated series of services in response to these needs.  With 90% of its revenues coming from out-of-state, Paragon will continue to showcase Baltimore and Maryland among leading Pharmaceutical and Biotechnology Companies.  For more information, please visit www.paragonbioservices.com

About University of Maryland BioPark
The University of Maryland BioPark offers sophisticated laboratory and office space for early-stage to mature bioscience companies.  To date, the BioPark includes 360,000 square feet in two multi tenant buildings and one 638 space parking garage.  The project has created 400 jobs and $136 million in capital investment. The BioPark was named by the Association of University Research Parks as the best emerging research park of the year in October 2007.   For more information, please visit www.umbbiopark.com