Glenolden Property Used as a Research Lab Sold to Spark Therapeutics for $6 Million
A Glenolden property once used as a research laboratory for the University of Pennsylvania has been snatched up by Spark Therapeutics for $6 million, writes Natalie Kostelni and John George for Philadelphia Business Journal.
Penn vacated the 17-acre vivarium and lab at 500 S. Ridgeway Ave.in 2013.
The vivarium totals 40,000 square feet. The property’s main building is 97,198 square feet and there aer seven ancillary buildings totaling nearly 30,000 square feet.
The complex was built in 1978 by DuPont. It has undergone more than $37 million in renovations since then, upgrading the main building, wet labs, animal vivarium operating rooms and more.
Spark is a gene therapy pioneer out of Philadelphia owned by Roche Pharmaceuticals.
“This facility is a small, yet important part of our plans to bring forward more gene therapies for patients and continue to create the path to a world where no life is limited by a genetic disease,” the company stated in a release.
Spark developed the gene therapy product Luxturna, the first gene therapy product approved by the Food and Drug Administration for an inherited disease, a retinal disorder that causes blindness.
Read more about Spark Therapeutic’s purchase of a Glenolden research lab in the Philadelphia Business Journal.
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