RNL Biostar formally opened on August 25 its new 4,000 square-foot stem cell R&D and manufacturing facility at the Germantown Innovation Center (GIC), the County’s fifth and newest incubator facility that opened last fall as part of the Montgomery County Business Innovation Network (BIN).

Montgomery County Department of Economic Development Director Steve Silverman and Maryland State Senator Jennie M. Forehand joined RNL Biostar executives and other local and state officials and private sector guests in celebrating the event.

Montgomery County Executive Isiah Leggett said, “I congratulate RNL Biostar on the opening of its new, expanded facility at the County’s Germantown Innovation Center and wish them continued success in their work to combat such debilitating ailments as Buerger’s Disease, degenerative arthritis and spinal cord injuries using unique stem cell therapies.”

He added: “I visited RNL Bio during my business development mission to Korea last fall and saw firsthand their vital stem cell therapy research and development. We are delighted that RNL Biostar’s expansion in the county will help further this important work while adding jobs to our local economy. It’s a win-win for everyone.”

“The expansion of RNL Biostar demonstrates the highly supportive environment and tremendous assets found within the State to advance our bioscience industry,” said Governor Martin O’Malley. “The opening of the new Maryland Biotechnology Center, along with key recommendations from Maryland’s Life Sciences Advisory Board, will support future company growth around the State as part of our BioMaryland 2020 initiative.”

RNL Biostar, a wholly-owned subsidiary of premier Korean biotechnology company RNL Bio, was attracted to the County’s Maryland Technology Development Center incubator in 2006. The company is responsible for US clinical development and licensing its technologies in the North and South American markets.

The company, which plans to grow from four current employees to more than 50 within the next three years, first announced its expansion plans during the Biotechnology Industry Organization (BIO) International Conference in May in Atlanta.

RNL Biostar joins 22 other GIC companies that have established or expanded a presence in the county because of numerous business assets, including 300-plus biotech companies, 19 federal research and regulatory agencies, nearly 60,000 public and private sector life sciences professionals and the highest per capita concentration of PhDs in the nation. The addition of RNL Biostar brings the GIC’s occupancy rate to nearly 90 percent since opening in November.

RNL Biostar invested $6 million for equipment purchase and facility improvements, including five offices, four clean rooms and one lab. The County provided the company with a $230,000 Economic Development Fund grant to help support its growth from six current employees to more than 50 full-time positions within the next three years. The majority of these new positions will be cell manufacturing technicians averaging $50,000/year, and RNL Biostar plans to occupy 20,000 square feet of commercial space in the county by late 2014.

“I’m excited to be here today from Korea to help celebrate the opening of our new, expanded stem cell facility in Montgomery County,” said Dr. Jeong Chan Ra, chief executive officer of RNL Bio and RNL Biostar.

He added: “This impressive new facility will enable us to further our stem cell technology aimed at alleviating incurable diseases like Buerger’s Disease and degenerative arthritis and allow us to aggressively pursue other strategic company goals, like further development of our unique fat-based stem cells. We look forward to continued success in these and other areas from our new space here at the Germantown Innovation Center.”

RNL Bio, headquartered in Seoul, Korea and publicly traded on the Korean Stock Exchange, is focused on the research and development of adult derived stem cell therapies and life sciences technologies. RNL has two therapies in Phase II clinical trials, one for Buerger's Disease and one for osteoarthritis. RNL Biostar is responsible for clinical development in the U.S. and for licensing its technologies in North and South American markets.