Krystal Biotech, Inc. Enters into a Purchase and Sale Agreement with Northfield I, LLC
February 03, 2021 at 02:32 am IST
Share
On January 29, 2021, Krystal Biotech, Inc. (the “Company” or “Krystal”) entered into a Purchase and Sale Agreement (the “Agreement”) with Northfield I, LLC, to acquire its second commercial gene therapy facility (“ASTRA”) located in the Pittsburgh, Pennsylvania area for approximately $9.3 million exclusive of $2.4 million in pre-paid rent that will be re-classified as a portion of the purchase price. The 150,000 square foot facility is under construction and is expected to be completed and validated in 2022. The Company exercised its option to buy ASTRA pursuant to the existing lease agreement between the Company and Northfield. The Company currently holds approximately $1.5 million on deposit with Northfield under the existing lease agreement and intends to apply this deposit as a credit against the purchase price at closing.
Krystal Biotech, Inc. is an integrated, commercial-stage biotechnology company. It is focused on the discovery, development, and commercialization of genetic medicines to treat diseases with high unmet medical needs. Its product candidates in various stages of clinical and preclinical development include VYJUVEK, KB407, KB408, KB707, KB105, KB104, KB104, and KB301. Its commercial product VYJUVEK is a non-invasive, topical, redo sable gene therapy designed to deliver two copies of theCOL7A1 gene when applied directly to DEB wounds. VYJUVEK is designed to treat DEB at the molecular level by providing the patientâs skin cells the template to make normal COL7 protein, thereby addressing the fundamental disease-causing mechanism. KB407 is developed for the treatment of Cystic Fibrosis. KB408 is developed for the treatment of Alpha-1 Antitrypsin Deficiency. KB707 is developed for the treatment of solid tumors. KB105 is developed for TGM1-Deficient Autosomal Recessive Congenital Ichthyosis.
KRYSTAL BIOTECH, INC. 
