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Lexington

Vote OK’s tax break for uniQure

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Town Meeting members have agreed to offer almost $300,000 in tax reductions to lure a Dutch gene therapy company to town. The vote during Monday night’s session approved the terms of a tax increment financing agreement for uniQure if it opens a manufacturing operation here. Stephen Gorgol, a consultant for uniQure, said the company is in negotiations to sign a lease at 113 Hartwell Ave. for a facility that would manufacture Glybera, which treats a rare condition that causes inflammation of the pancreas. Approved by the European Commission in November, it is the first gene therapy to receive regulatory approval in the Western world, according to the company’s website. Gorgol said uniQure is hoping to receive the US Food and Drug Administration’s approval of Glybera by late next year. The local operation would create about 90 jobs in the 52,000-square-foot space in the Hartwell Avenue building, with a targeted opening during the third quarter of 2014, said Selectman Joseph Pato. The terms of the TIF agreement approved Monday offers $285,790 in tax savings to the company over a 10-year period. The town expects to net about $1.25 million in taxes paid by uniQure over the same period.

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