SMITHFIELD – Biotechnology firm Rubius Therapeutics Inc. was added to the Nasdaq biotechnology index on Dec. 24.
The company, based in Cambridge, Mass., but building a facility in Smithfield, announced the development in a news release.
Rubius manufactures allogeneic cellular therapies called Red Cell Therapeutics, which have the potential to treat several different kinds of diseases, the company said.
The company recently secured a $75 million loan from Solar Capital Partners to advance its product line: red blood cells in medicines that can replace enzymes in patients with cancer and autoimmune diseases.
The 135,000-square-foot Smithfield property that Rubius bought in July was a former Alexion Pharmaceuticals facility.
“We are ensuring that we will have state-of-the-art manufacturing capabilities in place,” said CEO Dr. Pablo Cagnoni at that time.
The new location should be operational by 2020, Rubius said.
Susan Shalhoub is a PBN contributing writer.