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<b><span style="font-size:48.0pt;font-family:"Avenir LT Std 55 Roman";color:#201F1E;border:none windowtext 1.0pt;padding:0in">NEWS RELEASE</span></b><span style="font-family:"Avenir LT Std 55 Roman";color:#201F1E"><o:p></o:p></span></p>
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<b><span style="font-size:10.0pt;font-family:"Avenir LT Std 55 Roman";color:#201F1E;border:none windowtext 1.0pt;padding:0in">For Immediate Release Date: 05/20/2021<o:p></o:p></span></b></p>
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<b><span style="font-size:10.0pt;font-family:"Avenir LT Std 55 Roman";color:#201F1E;border:none windowtext 1.0pt;padding:0in">Contact: Public Information Office Phone: (919) 560-0000/Fax: (919) 560-0020</span></b><span style="font-family:"Avenir LT Std 55 Roman";color:#201F1E"><o:p></o:p></span></p>
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<b><span style="font-size:10.0pt;font-family:"Avenir LT Std 55 Roman";color:#201F1E;border:none windowtext 1.0pt;padding:0in">E-mail: </span></b><span style="color:black"><a href="mailto:publicinformationoffice@dconc.gov" target="_blank"><span style="font-family:"Avenir LT Std 55 Roman";border:none windowtext 1.0pt;padding:0in">publicinformationoffice@dconc.gov</span></a></span><span style="font-family:"Avenir LT Std 55 Roman";color:#201F1E"><o:p></o:p></span></p>
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<b><span style="font-size:16.0pt;font-family:"Avenir LT Std 55 Roman";color:#201F1E;border:none windowtext 1.0pt;padding:0in">CARsgen Therapeutics Selects Durham for North American R&D and Manufacturing Facility
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<span style="font-size:12.0pt;font-family:"Avenir LT Std 55 Roman";color:#201F1E;border:none windowtext 1.0pt;padding:0in">Company’s $157M Investment Will Create 200 New Jobs<o:p></o:p></span></p>
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<b><span style="font-size:12.0pt;line-height:150%;font-family:"Avenir LT Std 55 Roman";color:#201F1E;border:none windowtext 1.0pt;padding:0in">Durham, N.C.
</span></b><span style="font-size:12.0pt;line-height:150%;font-family:"Avenir LT Std 55 Roman";color:black;border:none windowtext 1.0pt;padding:0in">– Durham continues to be one of the world’s top Life Sciences’ clusters with North Carolina Governor Roy Cooper’s
announcement on Thursday, May 20, 2021, that CARsgen Therapeutics, </span><span style="font-size:12.0pt;line-height:150%;font-family:"Avenir LT Std 55 Roman";color:black;background:white">will establish its first biomanufacturing site in North America here.
CARsgen currently has its U.S. clinical development operations in Houston, Texas.</span><span style="font-size:12.0pt;line-height:150%;font-family:"Avenir LT Std 55 Roman";border:none windowtext 1.0pt;padding:0in"><o:p></o:p></span></p>
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<span style="font-size:12.0pt;line-height:150%;font-family:"Avenir LT Std 55 Roman";color:black;background:white">"Global companies know that North Carolina is a world class leader in biotechnology. Our state’s skilled workers, educational institutions and
business environment provide life science companies with the tools they need to succeed.”
</span><span style="font-size:12.0pt;line-height:150%;font-family:"Avenir LT Std 55 Roman";color:black;border:none windowtext 1.0pt;padding:0in">Cooper said in a
</span><span style="color:black"><a href="https://www.nccommerce.com/news/press-releases/leading-cell-therapy-biotech-company-chooses-research-triangle-its-north"><span style="font-size:12.0pt;line-height:150%;font-family:"Avenir LT Std 55 Roman";border:none windowtext 1.0pt;padding:0in">release</span></a></span><span style="font-size:12.0pt;line-height:150%;font-family:"Avenir LT Std 55 Roman";color:black;border:none windowtext 1.0pt;padding:0in">.</span><span style="font-size:12.0pt;line-height:150%;font-family:"Avenir LT Std 55 Roman";border:none windowtext 1.0pt;padding:0in"><o:p></o:p></span></p>
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<span style="font-size:12.0pt;line-height:150%;font-family:"Avenir LT Std 55 Roman";color:black;background:white">CARsgen Therapeutics Corporation, a wholly-owned subsidiary of CARsgen Therapeutics Holdings Limited, is a clinical stage biotechnology company
specializing in what’s known as chimeric antigen receptor (CAR) T cell therapies, a type of therapy that engages people’s immune systems in a new way. The therapeutic approach can yield medicines for various human cancers, including leukemia, lymphoma, and
solid tumors. The company’s project in North Carolina will establish a 37,000 square foot clinical/early-stage commercial manufacturing facility and then a 100,000 square foot cGMP commercial manufacturing facility in Durham that will eventually produce FDA
approved cell therapies.</span><span style="font-size:12.0pt;line-height:150%;font-family:"Avenir LT Std 55 Roman";border:none windowtext 1.0pt;padding:0in"><o:p></o:p></span></p>
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<p style="margin:0in;line-height:150%"><a name="_Hlk72410937"><span style="font-family:"Avenir LT Std 55 Roman"">“Today’s CARsgen announcement reinforces the benefit of investments made to sustain our region as one of the world’s top markets for life sciences
and why we continue to build up local workforce strategies,” said Board of County Commissioners Chair Brenda Howerton. “With the support of our talented labor and educational institutions, the company will be well-positioned as they seek to develop critical,
new cancer treatments. We welcome CARsgen and their shared commitment to diversity and workforce development to Durham, which will benefit our local community and beyond.”<o:p></o:p></span></a></p>
<span style="mso-bookmark:_Hlk72410937"></span>
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<b><span style="font-size:12.0pt;line-height:150%;font-family:"Avenir LT Std 55 Roman";border:none windowtext 1.0pt;padding:0in"><o:p> </o:p></span></b></p>
<p style="margin:0in;line-height:150%"><span style="font-family:"Avenir LT Std 55 Roman";color:black;background:white">CARsgen Therapeutics’ project in North Carolina will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the
state’s Economic Investment Committee earlier today. Over the course of the 12-year term of this grant, the project is estimated to grow the state’s economy by $1.04 billion. Using a formula that takes into account the new tax revenues generated by the 200
new jobs, the JDIG agreement authorizes the potential reimbursement to the company of up to $1,616,250, spread over 12 years. Over the 12 years, those state tax revenues will exceed $31.1 million.<o:p></o:p></span></p>
<p style="margin:0in;line-height:150%"><span style="font-family:"Avenir LT Std 55 Roman";color:black"><o:p> </o:p></span></p>
<p style="margin:0in;line-height:150%"><span style="font-family:"Avenir LT Std 55 Roman";color:black;background:white">CARsgen’s JDIG agreement also could move as much as $538,750 into the state’s
</span><a href="https://www.nccommerce.com/grants-incentives/public-infrastructure-funds/utility-account"><span style="font-family:"Avenir LT Std 55 Roman"">Industrial Development Fund – Utility Account</span></a><span style="font-family:"Avenir LT Std 55 Roman";color:black;background:white">
for use by rural communities elsewhere in the state. The Utility Account helps finance necessary infrastructure upgrades in more economically challenged areas of the state to attract future business.<o:p></o:p></span></p>
<p style="margin:0in;line-height:150%"><span style="font-family:"Avenir LT Std 55 Roman";color:black"><o:p> </o:p></span></p>
<p style="margin:0in;line-height:150%"><span style="font-family:"Avenir LT Std 55 Roman";color:black">The Board of County Commissioners will likely consider a local award at its May 24<sup>th</sup> Regular Session meeting.
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<a name="_Hlk72410953"><span style="font-size:12.0pt;line-height:150%;font-family:"Avenir LT Std 55 Roman";color:black;border:none windowtext 1.0pt;padding:0in">“The benefit of CARsgen’s location in Durham will be far-reaching through their pursuit of cancer
treatments that address unmet need,” stated Economic Development Officer Andrew Miracle. “With their innovative approach to creating life-saving medicines, CARsgen will be a tremendous addition to the Research Triangle’s renowned life sciences industry. We
look forward to this partnership opportunity.”</span></a><span style="mso-bookmark:_Hlk72410953"><span style="font-size:12.0pt;line-height:150%;font-family:"Avenir LT Std 55 Roman";border:none windowtext 1.0pt;padding:0in"><o:p></o:p></span></span></p>
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<p style="margin:0in;line-height:150%"><span style="font-family:"Avenir LT Std 55 Roman";color:black;background:white">Partnering with the North Carolina Department of Commerce and the Economic Development Partnership of N.C. on this project were the North
Carolina General Assembly, the North Carolina Community College System, the North Carolina Biotechnology Center, Duke Energy, the City of Durham, Durham County and the Greater Durham Chamber of Commerce.<o:p></o:p></span></p>
<p style="margin:0in;line-height:150%"><span style="font-family:"Avenir LT Std 55 Roman";color:black"><o:p> </o:p></span></p>
<p style="margin:0in;line-height:150%"><span style="font-family:"Avenir LT Std 55 Roman";color:black">For more information about this announcement, contact Economic Development Officer Andy Miracle at
</span><a href="mailto:amiracle@dconc.gov"><span style="font-family:"Avenir LT Std 55 Roman"">amiracle@dconc.gov</span></a><span style="font-family:"Avenir LT Std 55 Roman";color:black">.<o:p></o:p></span></p>
<p style="margin:0in;line-height:150%"><span style="font-family:"Avenir LT Std 55 Roman";color:black"><o:p> </o:p></span></p>
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<span style="font-family:"Avenir LT Std 55 Roman";color:#201F1E;border:none windowtext 1.0pt;padding:0in">###</span><span style="font-family:"Avenir LT Std 55 Roman";color:#201F1E"><o:p></o:p></span></p>
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