IDI Lands Healthpoint Expansion

IDI lands Healthpoint expansion

7/6/12, fwbusinesspress.com, Matthew McGowan reporter 

Fort Worth real-estate development firm Innovative Developers Inc. announced last week it landed a deal to oversee infrastructure upgrades to 80,000 square feet of research and manufacturing space at the Hulen Street headquarters of Healthpoint Biotherapeutics.

The biotechnology company announced last month it would be spending $60 million for new construction and hiring ahead of the expected launch of one of its flagship products, a cell therapy targeting venous leg ulcers. The product recently completed a second round of testing and is poised to receive Food and Drug Administration approval just as the building upgrade’s second phase comes online toward the end of this year.

Glen Hahn, IDI’s president and CEO, said the multi-phase project is moving ahead on schedule, though he and his team will continue to monitor the project closely to ensure it meets the Byzantine requirements that come along with any FDA-monitored project.

So far, however, everything appears on track, Hahn said.

“We’re addressing challenges as we go, and right now there doesn’t appear to be anything to keep us from reaching and meeting our goal by the appropriate time,” he said. “We don’t foresee any surprises.”