Sarepta Therapeutics Opens New Global Headquarters in Cambridge, Mass.

  Sarepta Therapeutics Opens New Global Headquarters in Cambridge, Mass.

Business Wire

CAMBRIDGE, Mass. -- June 2, 2014

Sarepta Therapeutics, Inc. (NASDAQ:SRPT), a developer of innovative RNA-based
therapeutics, today announced the opening of its new global headquarters at
215 First Street in Cambridge’s Kendall Square. Sarepta executives, directors
and employees will celebrate the announcement at a ribbon-cutting ceremony at
10:00 a.m. with several federal, state, and local government officials from
Massachusetts, leaders of the Massachusetts life sciences and biotechnology
communities, and representatives from leading Duchenne muscular dystrophy
(DMD) patient advocacy groups. The new headquarters includes approximately
45,000 square feet of office and laboratory space capable of supporting early
stage drug discovery and development.

Sarepta is the global leader in the development of phosphorodiamidate
morpholino oligomer (PMO) chemistries for RNA therapeutics, and the company’s
lead drug candidate, eteplirsen, is designed to address the underlying cause
of DMD. The company is also developing several additional clinical candidates
for rare and infectious diseases and continues to advance its PMO technology
platform.

“We are very pleased to join and contribute to the thriving life sciences
community in Massachusetts,” said Chris Garabedian, president and chief
executive officer ofSarepta Therapeutics.“Operating in Cambridge provides us
with access to the region’s world-class biopharmaceutical talent, major
academic medical centers and hospitals, and industry leaders in the RNA and
rare disease fields. This access to talent and resources is critical as we
develop our lead drug candidate, eteplirsen, for the treatment of DMD.”

“Thanks to our growth strategy of investing in education, innovation and
infrastructure, Massachusetts continues to lead the world in life sciences,”
said Massachusetts Governor Deval Patrick. “We congratulate Sarepta
Therapeutics on their expansion and look forward to their continued
contributions to our thriving life sciences community.”

The milestone completes the relocation of Sarepta’s headquarter operations to
Cambridge, a process that began in early 2013. Since the relocation began,
Sarepta has rapidly grown to approximately 160 employees, with nearly 90 based
in Cambridge. In addition, Sarepta recently announced an agreement to acquire
a 60,000 square foot multifunctional manufacturing facility on 26 acres of
land in Andover, Mass., further expanding the company’s in-state operations.
The company anticipates continued growth in its employee base at these two
Massachusetts locations over the next year. The company also has operations at
a facility in Corvallis, Ore., focused on research, manufacturing and other
support functions.

“On behalf of the Center, I would like to extend our warmest congratulations
to Sarepta Therapeutics as the company officially opens its global
headquarters in Cambridge,” said Susan Windham Bannister, Ph.D., president and
chief executive officer of the Massachusetts Life Sciences Center, the agency
charged with implementing Governor Patrick’s 10-year, $1 billion Life Sciences
Initiative. “Sarepta’s mission is to be on the cutting edge of innovation in
RNA-based therapeutics and the management team believed that relocating to
Massachusetts would help the company achieve that goal. Sarepta has grown
exponentially here in Massachusetts, and we look forward to partnering with
the company to support its future growth.”

Distinguished guests attending the celebration offered the following remarks:

“Congratulations to Sarepta on opening its global headquarters today in
Cambridge,” said U. S. Representative Michael Capuano. “Greater Boston is a
unique center of excellence in biomedical sciences. Our great universities,
research institutes and teaching hospitals unite academic and clinical
research at a density and intensity unequalled anywhere in the world. I
welcome the life-saving innovations they create and the employment
opportunities they provide.”

“Sarepta is just the type of growth-oriented, community-friendly company that
the City of Cambridge is lucky to have as a partner in our community,” said
Mayor David Maher. “Cambridge is now at the center of one of the biggest cross
collaborations between municipalities, universities, hospitals and businesses
in the United States. Welcoming yet another great company like Sarepta
demonstrates that our City is unquestionably at the leading edge of the life
science industry throughout the country.”

“It is great to see innovative companies such as Sarepta opening their global
headquarters in Cambridge,” said State Senator Sal DiDomenico. “Their work in
the area of rare diseases is impressive, and I have no doubt that their
research and development will bring about important changes to the life
sciences field.”

“I’m pleased to welcome Sarepta Therapeutics to the vigorous life sciences
community in Massachusetts. I’m confident that the company’s strong R&D
organization will ensure that even more high skilled jobs will be created in
Cambridge as well as contribute to the continued growth of the robust biotech
sector in Massachusetts,” said State Representative TimothyJ. Toomey.

“Here in the Commonwealth we are pleased to have Sarepta Therapeutics
establish their headquarters in Cambridge,” said State Representative Carlo P.
Basile, Chairman of the Committee on Veterans and Federal Affairs.
“Massachusetts has been known for its medical expertise for many years, and we
are very proud of the fact that we are one of the world’s leaders in life
sciences. Adding an accomplished entity like Sarepta Therapeutics to the
Commonwealth will help keep our skilled biopharmaceutical graduates here and
give them another potential workplace to use their talents.”

“As we recognize Duchenne Awareness Month this June, I’m excited to see
Sarepta Therapeutics take another step towards advancing important potential
treatments for boys and young men living with Duchenne with the opening of the
company’s new headquarters in Cambridge,” said Christine McSherry, executive
director of the Jett Foundation and a co-founder of the Duchenne Alliance.
“Our organizations, and the broader Duchenne community, are committed to
working with companies like Sarepta to improve the lives of patients and
families.”

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 anticipated benefits of Sarepta moving its headquarters
to Cambridge such as its ability to access local talent and resources,
Sarepta’s anticipated growth and increase in its workforce over the next year,
Sarepta’s preparations for potential commercialization of eteplirsen and plans
to continue advancing its pipeline of drug candidates and PMO technology
platform, 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. As a result of various factors including availability of resources,
clinical trial and research results, government or agency decisions and
unexpected changes in applicable laws: Sarepta may not be able to achieve all
of the benefits it anticipates in connection with moving its headquarters to
Cambridge, Sarepta may not be able to grow and expand within the time frames
anticipated or at all, Sarepta may not be able to submit an NDA for eteplirsen
or receive the regulatory approvals required for its commercialization and may
not be able to continue developing some or all of its drug candidates and PMO
technology platform. 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:

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