SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report: August 12, 1996
MEDIMMUNE, INC.
(Exact name of registrant as specified in its charter)
Commission File Number: 0-19131
Delaware 51-1555759
(State of Incorporation) (I.R.S. Employer
Identification No.)
35 West Watkins Mill Road, Gaithersburg, MD 20878
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (301)417-0770
No Exhibits are being filed with this report
MEDIMMUNE, INC.
Current Report on Form 8-K
ITEM 5. OTHER EVENTS
MedImmune, Inc. reported the information contained on the following
press release dated August 12, 1996.
MEDIMMUNE ANNOUNCES FACILITY EXPANSION IN MARYLAND
Will Build Approximately $50 Million Manufacturing Facility In
Frederick and Expand Facilities in Gaithersburg
Gaithersburg, MD, August 12, 1996 -- MedImmune, Inc. (Nasdaq:MEDI)
today announced that it has decided to locate its approximately $50
million manufacturing facility in Frederick, Maryland after a careful
18 month review of proposals from several states. MedImmune also
announced plans to commence an approximately $6.5 million expansion
of its Gaithersburg facilities to provide additional space for
research, development and marketing staff as well as expand its pilot
plant production capacity for products being evaluated in human
clinical trials. Fluor Daniel, Inc. has completed design plans for
the new manufacturing facility and has been contracted by the Company
to begin immediate construction.
"MedImmune's decision to expand its operations in Maryland is living
proof of how our economic development efforts have created a healthy
environment for growing companies to thrive," commented Governor
Parris Glendening of Maryland. "We are extremely pleased that one of
the most promising biotechnology companies in Maryland has chosen to
build its future with the State. We appreciate MedImmune's
commitment, and we pledge to work together to ensure their success."
"The cooperation - and sheer determination - on the part of the State
and its local government partners in this effort is testament to the
importance we all place on business expansion in Maryland," added
Douglas M. Duncan, County Executive, Montgomery County, Maryland.
"What's good for Montgomery and Frederick Counties is good for
Maryland; and what's good for Maryland is first-class businesses like
MedImmune. I welcome MedImmune's decision to locate its new
manufacturing plant here in Maryland and am delighted that the
company will be expanding its Montgomery County operation."
The Frederick, Maryland manufacturing facility will be located on a 26
acre site adjacent to two major interstate highways and approximately
30 minutes from MedImmune's headquarters in Gaithersburg. With a
floor space of approximately 68,100 square feet, the facility will
include modules for production of antibody-based products as well as
facilities for filling and packaging, quality control, warehousing,
and manufacturing administration. An upper level mechanical area
will consist of an additional 22,700 square feet. The facility is
expected to employ 50 to 100 individuals. MedImmune hopes to
complete mechanical construction and commence production in the new
facility during 1998, if and when the facility is licensed by the
U.S. Food and Drug Administration.
MedImmune's facilities in Gaithersburg will also be expanded. The
Company has commenced modification and build-out of an additional
11,500 square feet of space for research, development, and marketing
staff which will be completed this fall 1996. In addition, the
Company is beginning an approximately $6 million expansion of its
pilot plant facility in Gaithersburg to provide additional capacity
for producing products undergoing human clinical evaluation. The
Company believes the expanded facility will allow the Company to
produce two clinical products simultaneously under Good Manufacturing
Practices guidelines. Moreover, these pilot plant improvements,
expected to be completed in 1997, may allow licensure of the facility
for initial production of product launch material if and when future
products are approved for marketing by the FDA. When expansions are
completed, the Gaithersburg facility floor area will encompass
approximately 71,000 square feet, up from approximately 41,000 square
feet when the Company first moved to the location in 1991.
Financing for the new manufacturing facility is being provided by a
combination of loans and other incentives from the State, County and
local governments and proceeds from MedImmune's recently completed
convertible debt offering. Of the total capital cost of
approximately $50 million, the government-financed portion includes
approximately $13 million.
"The company is grateful for the efforts exerted by the State of
Maryland as well as the counties of Montgomery and Frederick and
cities of Gaithersburg and Frederick so that we could continue to
expand our operations in Maryland," commented Wayne T. Hockmeyer,
Ph.D., Chairman and Chief executive Officer of MedImmune. "We look
forward to nurturing a long and productive relationship with our new
neighbors in Frederick as well as continuing our long partnership
with Gaithersburg, Montgomery County and the State of Maryland."
Fluor Daniel, a leading worldwide diversified services company with
its headquarters based in Irvine, California, is responsible for
siting, consulting, detailed design, procurement, construction,
validation and start-up services of the new manufacturing facility.
Fluor Daniel helped launch the biotechnology industry by designing
and building the first commercial biotechnology manufacturing plant
for Genentech, completed in 1981. Fluor Daniel has executed over 300
pharmaceutical and biotechnology projects worldwide in the last five
years.
MedImmune, Inc. is a biotechnology company focused on developing and
marketing products for the prevention and treatment of infectious
diseases and for use in transplantation medicine. MedImmune
currently markets two products through its hospital-based sales force
and has six new products in clinical trials. MedImmune is located in
Gaithersburg, MD.
This announcement may contain, in addition to historical information,
certain forward looking statements that involve risks and
uncertaities. Such statements reflect management's current views and
are based on certain assumptions. Actual results could differ
materially from those currently anticipated as a result of a number
of factors, including risks and uncertainties discussed in the
Company's filings with the U.S. Securities and Exchange Commission.
MedImmune cannot predict the timing or outcome of regulatory approval
processes.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.
MEDIMMUNE, INC.
(Registrant)
Date: August 12, 1996 s/David M. Mott
President and Chief Operating Officer
(Principal financial and accounting
officer)
