You can now read 5 articles in a month for free on BostonGlobe.com. Read as much as you want anywhere and anytime for just 99¢.

Red Sox Live

0

0

Game starts at 4:05 PM

Lexington

Vote OK’s tax break for uniQure

Continue reading below

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.

Loading comments...
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com
Already a subscriber?
Your city. Your stories. Your Globe.
Yours FREE for two weeks.
Enjoy free unlimited access to Globe.com for the next two weeks.
Limited time only - No credit card required!
BostonGlobe.com complimentary digital access has been provided to you, without a subscription, for free starting today and ending in 14 days. After the free trial period, your free BostonGlobe.com digital access will stop immediately unless you sign up for BostonGlobe.com digital subscription. Current print and digital subscribers are not eligible for the free trial.
Thanks & Welcome to Globe.com
You now have unlimited access for the next two weeks.
BostonGlobe.com complimentary digital access has been provided to you, without a subscription, for free starting today and ending in 14 days. After the free trial period, your free BostonGlobe.com digital access will stop immediately unless you sign up for BostonGlobe.com digital subscription. Current print and digital subscribers are not eligible for the free trial.