Baltimore, MD, May 18, 2018 – Paragon Bioservices, Inc. (Paragon), the leading private equity-backed biologics contract development and manufacturing organization (CDMO) with proven expertise in gene therapy and next-generation vaccines, was named the 2018 Life Science Company of the Year by the Maryland Tech Council (MTC). The announcement came at MTC’s 30th Annual Industry Awards held last night in the Hotel at the University of Maryland in College Park.
In 2017, Paragon experienced substantial revenue growth over 2016 and the Company has created more than 70 new high-paying jobs in Maryland. Paragon has been focusing on gene therapy projects and has multiple Good Manufacturing Practice (GMP) projects underway with more than 15 of the top industry leaders in the world. Nearly all of the Company’s new business and clientele are commercial biotechnology organizations—a change from previous years during which the company had a much heavier reliance on government contracts.
“We are incredibly honored to accept the Life Science Company of the Year award from the Maryland Tech Council,” said Pete Buzy, President and CEO. “We have a very talented team and world-class customers – and we’re proud of what we’ve accomplished to date. Receiving this honor on the heels of our recent commercial manufacturing facility expansion announcement is a true win.”
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