WEST JORDAN, Utah — An emerging Utah biotechnology firm is planning to purchase the former site of a global microchip manufacturer for approximately $21 million.
PolarityTE announced Thursday its intention to buy the 60-acre (243,000-sq. meter) West Jordan site that was formerly the Utah headquarters for Fairchild Semiconductor. The purchase is expected to close in the next 30 days, PolarityTE President and CEO Denver Lough said.
PolarityTE’s proprietary platform, which was launched earlier this year, facilitates the regeneration of a patient’s tissues using their own cells, the Deseret News reported (http://bit.ly/2yS5XWq ).
Lough said the company had been searching for a large space to expand its operations for months. Lough said he received a call from the Utah Science Technology and Research Initiative about the available property.
“They said there was this place, ‘Let’s go look at it,'” he described. “We pulled up to it and said, ‘Wow, this place might need some work. But then we walked in and it has everything we need and is even organized and set up the way that we need it.”
The facility already had all the amenities PolarityTE would have built on its own, because microchip manufacturing requires many of the same safety and cleanliness standards as biotech research and manufacturing, Lough said.
The facility will be renovated in three phases, with the first two expected to be completed within three or four months, Lough said. The entire facility could be open by the end of next year, Lough said.
The company plans to spend about $70 million on the property, Lough said.
Information from: Deseret News, http://www.deseretnews.com