Incyte Corporation cut the ribbon on its new headquarters last week.
The event featured all members of the state’s congressional delegation and cancer survivor, Dan Childress, whose use of the drug is credited with saving his life.
Incyte began its drug discovery and development efforts in Wilmington in 2002 working at DuPont Co. sites, most recently the Experimental Station.
In November 2011, Incyte received FDA approval of Jakafi, the first and only FDA-approved treatment for a rare and potentially life-threatening blood cancer.
Childress, who was told he had months to live, was one of the first to receive Jakafi and saw almost immediate results. In a moving speech, he talked about being given the chance to see his grandchildren.
Jakafi is the first in a new class of drugs, known as JAK inhibitors, to be approved by the FDA.
The newly renovated 191,000-square-foot facility is located at the site of the former John Wanamaker building on Augustine Cut-Off, and will house more than 550 employees.
“We are very excited to be headquartered in such an iconic building and appreciate the encouragement and support we have received from every corner of the state,” said Hervé Hoppenot, CEO of Incyte. “Incyte is at the center of a major transformation in how cancer is treated, and this new facility supports our goal to accelerate the discovery and development of new and innovative therapies for patients in need.”
Hoppenot recently joined the company as CEO, succeeding Paul Friedman who retired from the post but remains on the board of the publicly traded company. Hoppenot said Incyte will be a good neighbor. Friedman, who helped engineer the company’s move to the building, was on hand for the ribbon cutting.
In December of 2012, Incyte was awarded a $10 million Delaware Strategic Fund performance grant and a $1,050,000 capital expenditure grant from the Delaware Economic Development Office (DEDO).
Alan Levin, DEDO secretary, pushed hard to keep the company in Delaware and hailed Incyte’s decision to stay in the state and expand its workforce.
In remarks at the event, Levin said the effort was not easy, given the many options Incyte had in locating elsewhere in a pharma corridor in the region.
Delaware has also been coping with the loss of research and other jobs at AstraZeneca, which underwent a downsizing after its blockbuster drugs went off patent.
Negotiations on securing the Augustine Cut-Off site were not easy either, Levin added. The property is owned by the Capano entities that own a large chunk of retail, office and apartment business in Delaware.
Levin said he was no stranger to the company in his role as CEO of the Happy Harry’s drug store chain that was later sold to Walgreens.
The Incyte site was in the news at one point as part of a dispute among family members. Levin, while making no reference to the dispute, praised family members for working to come up with a suitable lease.
“Incyte exemplifies Delaware innovation – growing from a biotech research start-up to a ground-breaking industry leader and adding hundreds of well-paying jobs to our local economy,” Levin said. “Incyte was born here, and we are delighted that they will stay here as our partnership, and their success, continues well into the future.”
Gov. Jack Markell said the company is an excellent fit for the state, due to its growth and mission. Indeed, buttons were available at the event carrying the words “Work Hard, Stay Calm and Cure Cancer.”
Carper, the state’s senior U.S. senator and a former governor praised the efforts of many people who helped the company come to Delaware and assemble a team that brought Jakafi to market.
The new corporate headquarters was named in honor of Friedman, who served as Incyte’s President and CEO from 2001 to 2014. Under the leadership of Friedman, Incyte was successful in bringing together a killed team that brought to market the first JAK inhibitor and created a broad development pipeline that includes compounds in three major oncology areas: onco-inflammation, immuno-oncology and targeted therapies, according to a company release.
The company now has a stock market value of $12 billion as of Friday. Companies, like Incyte, often face long odds in translating research into drugs.
The location housed the John Wanamaker store for many years. It was converted to office use, but struggled to retain clients. The store, built on a hilly site near the Brandywine, was often mentioned during remarks at the ground breaking as a holiday shopping destination.
One of the mysteries that remains is a horse ride that entertained generations of children. Hoppenot said the ride has not been located.
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