List Biotherapeutics Invests Over $125M to Establish New Facility in Fishers, IN

List Biotherapeutics Inc., whose parent company is South Korea-based Genome & Company, has invested more than $125 million in the city of Fishers, Indiana to establish a new 110,000 square foot contract manufacturing organization (CMO) facility on 15 acres in the Fishers Life Science & Innovation Park.
 
The company plans to hire 210 employees in Fishers in the areas of biologics manufacturing and quality and regulatory compliance after commissioning the facility by the end of 2023 which includes new lab and office space in Fishers.
 
The Fishers Life Science & Innovation Park was established in August 2021 and has seen more than $200 million in investment from life science firms Stevanato Group and INCOG Pharma with just eight acres remaining for development.
 
“We’re excited to establish our new manufacturing operations in Fishers, a growing life sciences hub with access to top-tier talent that can support our international expansion. Mayor Fadness and his team have been incredibly supportive throughout this process,” said Jonathan Yongwan Jo, president and CEO of List Biotherapeutics.
 
“Our objective with the investment for this new facility is to manufacture live biotherapeutic products (LBP) for Phase 3 clinical trials and for commercial use.” he added. “With that investment, we aim to become the market leader and premier CMO to bring LBPs to market as we harness bacterial science to help our customers create a healthier world by leveraging List Lab’s 40-plus years of experience and expertise in the industry.”
 
Genome & Company recently completed an investment into List Labs, List Bio’s sister company, and became a majority shareholder. The new facility in Fishers expands List Lab’s ability to offer an end-to-end manufacturing solution from early-stage development to late-stage clinical trials and commercialization.
 
“Fishers is perfectly positioned to support List Bio’s global expansion plans,” stated Fishers Mayor Scott Fadness. “We have the skilled workforce, infrastructure, and partnership with my administration that allows List Bio to focus on what matters: developing next-generation technology for the LBP manufacturing industry.”
 
List Labs, which was incorporated in California in 1978, supports biotechnology companies in the microbiome space through process development and cGMP manufacturing of live biotherapeutics for clinical trials. In addition, List Labs is well known for its reagent grade products for medical, vaccine and life science research.
 
“This is a tremendous development for Indiana’s life sciences sector, the City of Fishers, and the State,” said Brian Stemme, senior vice president of engagement for BioCrossroads, an organization focused on growing the state’s life sciences industry. “Genome & Company makes key components for biotech products in development all over the world. It’s a testament to our experienced workforce and strength in pharmaceutical manufacturing that this global player is investing in our region.”
 
The reintroduction of beneficial microorganisms has the potential to act as clinically relevant therapies to re-establish and maintain a healthy microbiome. Large consortia of bacteria, as well as individual bacterial strains referred to as live biotherapeutics products (LBPs), are currently being developed and manufactured for prevention, treatment or cure of a disease or condition. Diseases targeted by LBPs include gut, dermatologic, neurologic, immunologic, reproductive and oncologic disorders.
 
“With our vibrant life sciences sector and first-class business climate, Indiana is an epicenter for medical innovation and I’m excited to add List Biotherapeutics to the ever-growing list of innovative companies calling Indiana home,” said Indiana secretary of commerce Brad Chambers. “This investment helps affirm Indiana’s leadership in the global biotech industry and reflects confidence in our outstanding Hoosier workforce.”
 
Pending approval of the Indiana Economic Development Corporation (IEDC) board of directors, based on the company’s job creation plans, the IEDC will commit an investment in List Biotherapeutics Inc. of up to $3.15 million in the form of incentive-based tax credits. The IEDC will also offer the company up to $75,000 in conditional training grants, and up to $1,685,000 to the local community from the Industrial Development Grant Fund to support infrastructure improvements. These tax credits are performance-based, meaning the company is eligible to claim incentives once Hoosiers are hired and trained and investments are made.
 
The Fishers City Council will review and vote upon additional incentives during its upcoming November City Council meeting.