ProKidney to purchase Greensboro, NC manufacturing facility for $25.5M; eligible for $13.3M tax credits

PROKIDNEY CORP.

Purchase price of ~$25.5M cash for a 210K sq ft facility and 22 acres; expected close by end of June 2023.
Company eligible for up to $13.3M in tax credits from city, county, and state; requires 330+ new jobs by Dec 2028 and ~$458M investment by Dec 2027.
Facility will support commercial manufacturing for REACT cell therapy, currently in Phase 3 trials for diabetic CKD.
Cash as of March 31, 2023 expected to fund operations through interim results from proact 1 trial, anticipated in late 2024.
Company targeting BLA submission for FDA approval in 2026 with potential U.S. commercial launch later that year.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

PROKIDNEY CORP. entered into the Agreement with the city of Greensboro, N.C., Guilford County, N.C., and the North Carolina State Economic Investment Committee valued at approximately $25.5 million (effective 2023-06-13).

Action: entry
Agreement: asset purchase
Counterparty: the city of Greensboro, N.C., Guilford County, N.C., and the North Carolina State Economic Investment Committee
Value: approximately $25.5 million
Effective: 2023-06-13

Exact text from the filing

On June 13, 2023, ProKidney Corp. (the “Company”) announced its agreement to purchase a 210,000 square foot facility and approximately 22 acres of land in Greensboro, N.C., to support the Company’s future commercial manufacturing needs for REACT ® , its proprietary REnal Autologous Cell Therapy, currently in Phase 3 development for the treatment of diabetic chronic kidney disease.

View on SEC.gov

Browse all material agreements →

PROKIDNEY CORP. filing history →

Source: SEC EDGAR

accession 0001193125-23-168973

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.