Biopharm company Liquidia Technologies will lease a 70,131-square-foot space for a new manufacturing facility at Pathway Triangle, a $1 billion life science hub that came online in late 2024 about five miles from its Morrisville headquarters, it announced via an SEC filing Wednesday.
Liquidia is the first company to lease space at Pathway Triangle.
Earlier this month, Liquidia announced it was scheduled to make its first commercial shipment of Yutrepia, an inhalation powder for the treatment of pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease. The FDA gave its approval for the drug on May 23.
“Following the FDA approval and nationwide distribution of our first internally developed commercial product, YUTREPIA (treprostinil) inhalation powder, we are proud to have signed a lease for approximately 70,000 square feet of additional commercial space to support the next phase of our growth. This state-of-the-art facility, which is targeted for occupancy in 2026, will include production cleanroom space to house additional manufacturing lines, analytical labs to support additional YUTREPIA commercial supply, and additional cleanroom space for future production needs. This investment reaffirms Liquidia’s dedication to addressing the unmet needs of pulmonary hypertension patients while strategically positioning us to further serve a rapidly expanding market,” says Michael Hunter, senior vice president of Manufacturing Operations, in a release.
Liquidia has been involved in a years-long lawsuit with Durham-based United Therapeutics. On May 30, the U.S District Court for the Middle District of North Carolina denied United Therapeutics’ request for a preliminary injunction and temporary restraining order related to patent infringement.
Pulmonary arterial hypertension is a rare, chronic, progressive disease caused by narrowing, thickening or stiffening of the pulmonary arteries that can lead to right heart failure and eventually death. Currently, an estimated 45,000 patients are diagnosed and treated in the United States. There is currently no cure for PAH, so the goals of existing treatments are to alleviate symptoms and improve quality of life, according to a Liquidia release. Pulmonary hypertension associated with interstitial lung disease may afflict more than 60,000 patients, according to Liquidia.
Boston-based King Street Properties acquired the 75-acre Pathway Triangle campus in 2021. The site is expected to have almost 1 million square feet of rentable square footage. The first three buildings total 473,000 square feet.
Morrisville-based Liquidia will locate in Building 1, which has a total of 168,000 square feet. The 10-year lease agreement expires Nov. 1, 2036, and it will have Liquidia pay $260,069 for the first 12-month term, which will increase by 3% per each subsequent 12-month term. Base rent will be abated during the first six months, according to the filing.
On Monday, the Raleigh News & Observer reported that the Pathway Triangle property was empty. Neither King Street Properties nor the commercial real estate company CBRE, which is marketing the property, returned messages seeking comment.