Sarepta Therapeutics Announces Agreement for Acquisition of Manufacturing Facility in Massachusetts

  Sarepta Therapeutics Announces Agreement for Acquisition of Manufacturing
  Facility in Massachusetts

 State-of-the-art 60,000 square foot facility enhances internal manufacturing
                                  capability

Business Wire

CAMBRIDGE, Mass. -- May 22, 2014

Sarepta Therapeutics, Inc. (NASDAQ:SRPT), a developer of innovative RNA-based
therapeutics, today announced an agreement to acquire a multifunctional
manufacturing facility on 26 acres of land in Massachusetts. Sarepta intends
to use the facility to manufacture investigational exon skipping therapies for
Duchenne muscular dystrophy (DMD). The transaction comprises approximately $25
million in acquisition costs and planned enhancements, and is expected to
close in July subject to conditions and extensions in the agreement.

“This strategic acquisition complements our existing internal manufacturing
capability and global network of suppliers,” said Chris Garabedian, president
and chief executive officer of Sarepta Therapeutics. “While we scale up to
address the potential U.S. commercial demand for our lead product candidate
eteplirsen in the event of an approval next year, the addition of internal
resources will enhance our ability to advance the development of our broader
exon skipping platform and explore the potential of our technology platform in
other therapeutic areas.”

Sarepta is the global leader in the development of phosphorodiamidate
morpholino oligomer (PMO) chemistries for RNA therapeutics, with nearly a
decade of experience producing drug supply for use in basic research and
clinical trials. The Company plans to use the facility to further enhance and
scale its proprietary manufacturing processes for PMO chemistries. In
addition, the facility will be used to manufacture drug supply to support
clinical trials of Sarepta’s exon skipping therapies for DMD, as well as
research and development of future potential products and modified PMO
chemistries.

The multifunctional facility was constructed in 1996 and upgraded in 2006, and
has been qualified under Current Good Manufacturing Practice (cGMP)
regulations. When fully operational, the facility supports approximately 40
technicians and support staff. In addition, the acquisition includes 26 acres
of land available for future potential expansion.

About Sarepta Therapeutics

Sarepta Therapeutics is focused on developing first-in-class RNA-based
therapeutics to improve and save the lives of people affected by serious and
life-threatening rare and infectious diseases. The company's diverse pipeline
includes its lead program eteplirsen, for Duchenne muscular dystrophy, as well
as potential treatments for some of the world's most lethal infectious
diseases. Sarepta aims to build a leading, independent biotech company
dedicated to translating its RNA-based science into transformational
therapeutics for patients who face significant unmet medical needs. For more
information, please visit us at www.sarepta.com.

Forward-Looking Statements and Information

This press release contains statements that are forward-looking, including the
statements about the potential acquisition by Sarepta of a new manufacturing
facility and other property, the expected time for closing the acquisition,
the planned uses for the property being acquired and benefits of the
acquisition to Sarepta and its business operations, within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. These forward-looking statements involve risks and
uncertainties, some of which are beyond Sarepta’s control, including: the
acquisition may not successfully close for various reasons including
termination of the agreement by either party or the failure of closing
conditions to be met and Sarepta’s ability to use the property and achieve
benefits from the property as planned may be negatively impacted by various
factors including availability of resources, government or agency decisions
and unexpected changes in applicable laws. These risks should be considered
together with those included in the “Risk Factors” section of Sarepta’s
Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2014,
and Sarepta’s other SEC filings. Any forward-looking statement in this press
release represents Sarepta’s views only as of the date of this press release
and should not be relied upon as representing its views as of any subsequent
date. Sarepta does not undertake any obligation to publicly update its
forward-looking statements based on events or circumstances after the date
hereof, except as required by applicable law.

Contact:

Sarepta
Investors and Media:
Jim Baker, 617-274-4010
jbaker@sarepta.com
 
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