Tuesday, February 26, 2019

Achillion Pharma moves HQ to suburban Philly from New England for Talent

by Joseph DiStefano Philly.com
Publicly traded Achillion Pharmaceuticals Inc. has moved its headquarters from New Haven, Conn., to suburban Philadelphia. “We didn’t get any state aid to do this,” boasts CEO Joe Truitt. “We aren’t Amazon.”

The move to 1777 Sentry Parkway West, Blue Bell, brings to the region the head office for a $350 million (market cap) company — now between products and without revenues, but with $270 million in cash to spend building new products. The move also brings an initial 30 jobs, a modest number, but high-paying management and science posts, the boss added.

“We moved here because I needed to recruit a lot of people," Truitt told me. "We came here because of the favorability of this region, based on the most important thing — talent. Biotech development and commercialization talent.”

Achillion is developing therapies for “orphan diseases,” serious conditions that affect a few thousand Americans. Its current focus is on “alternative pathways" for factor D, an immune system enzyme whose maladjustment is associated with lethal kidney and blood diseases. The company’s therapies are going through later-stage trials in hopes of taking them to market.
Fully story: https://www.philly.com/business/achillion-drug-orphan-disease-hq-philly-new-england-20190221.html


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