September 27, 2012

GOV. MALLOY ANNOUNCES ARRIVAL OF NEW BIOPHARMACEUTICAL COMPANY

Firm Relocating Part of its Operations from New Jersey to Connecticut

(HARTFORD, CT) - Governor Dannel P. Malloy today announced the state will provide up to $2.25 million in grants to Durata Therapeutics, Inc. to support the relocation of its research and development, clinical, and regulatory operations from New Jersey to Branford. The company, whose headquarters are in Chicago, Illinois, will create up to 80 new, full-time jobs in Connecticut.

"The goal of Bioscience Connecticut is twofold - creating good paying jobs with good benefits for residents in an industry that is poised for growth," said Governor Malloy. "With the addition of Durata Therapeutics, we are further cementing the state as a destination for health and life science companies. Connecticut will continue to cultivate new investment, attract new talent, and work with our entrepreneurs to develop our workforce and strengthen our state's position as a global leader in this rapidly expanding field."

The move is the latest in a series of positive developments that have been announced since the Governor launched his Bioscience Connecticut initiative last year. The goal of Bioscience Connecticut is to position the state for sustained economic growth driven by research, development, and commercialization of new technologies and products.

"We are thrilled to welcome Durata Therapeutics to Branford and are grateful to the Governor for helping the company choose Connecticut," said State Representative Lonnie Reed (D-Branford). "Durata promises to create at least 80 substantial jobs, has huge potential for growth and joins a community of Branford life sciences firms dedicated to curing diseases and saving lives. I am fortunate to serve on the Governor's Life Sciences Advisory Group where our mission is to ensure that Bioscience Connecticut benefits all of our state and that we become a bioscience powerhouse second to none. Durata's arrival is one more step towards achieving that goal."

A clinical development stage biopharmaceutical firm founded in 2009, Durata addresses the growing need for new therapeutics to treat infectious diseases. It acquired the rights to a pharmaceutical drug and two other products through acquisition of Vicuron Pharmaceuticals from Pfizer and is currently in the late stages of development of dalbavancin for acute bacterial skin and skin structure infections, or abSSSI, including MRSA.

Total capital investment in Connecticut over the next 10 years is estimated to be $13 million. This includes $2 million of state assistance provided by the Department of Economic and Community Development, which will be used for leasehold improvements; research and development; furniture, fixtures and equipment; relocation costs; and other project-related expenses, and will be disbursed based on job creation milestones. The remaining $250,000 will be provided as a training grant.

"I am very excited about Durata's decision to establish a facility in Branford where we have a history of bioscience successes," said State Representative Pat Widlitz (D-Branford, Guilford). "This announcement makes the point that our state initiative to put Connecticut on the map as a bioscience center is attracting new business to the state and is creating new job opportunities for our constituents."

"The decision by this pharmaceutical company to locate in Branford reflects a growing economic resurgence on the shoreline as well as a good health initiative," said State Senator Ed Meyer (D-Guilford).

Funds are expected to be approved at the upcoming meeting of the State Bond Commission on October 3.

About Durata Therapeutics
Durata Therapeutics is a pharmaceutical company focused on the development and commercialization of novel therapeutics for patients with infectious diseases and acute illnesses. Durata is currently enrolling and dosing patients in two global Phase 3 clinical trials with its lead product candidate, dalbavancin, for the treatment of patients with acute bacterial skin and skin structure infections, or abSSSI.

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For Immediate Release: September 27, 2012

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