Biogen Invests in Local Company, AGTC

Applied Genetic Technologies Corporation (AGTC), a gene therapy research company, has cemented itself as one of the most successful University of Florida research derivatives. AGTC is now allowing Biogen, a global biotechnology firm, to license its manufacturing process in exchange for a $94 million licensing fee. Biogen is also purchasing an eight percent ownership stake in the company for $30 million. AGTC could also have more financial backing heading its way; Biogen has the option to license three of its genetic therapies for an additional $592.5 million. AGTC plans to increase its amount of employees as well as increase the space it is leasing in Progress Park of Alachua to 20,000 square feet with the capital investment.

AGTC was started by five former students of the University of Florida and the University of North Carolina in 1999. Sue Washer, the current president and CEO, is enthused with the financial interest Biogen has taken in the company. She has indicated that the greatest asset Biogen brings to the table is its distribution capabilities. AGTC’s therapies are expected to be commercially available by as early as 2019.

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Virginia MacKoul

Virginia is a graduate from the University of Florida's College of Design Construction and Planning with a degree in Sustainability and the Built Environment, and a minor in Urban Regional Planning. Virginia joined the Front Street team in 2011, as an intern. Upon graduation, Virginia joined the Front Street team full-time as the Director of Client Services. Ms. MacKoul’s addition furthers Front Street’s continued growth and expansion within Gainesville and other North Central Florida markets. She was promoted to Director of Marketing in 2014 and now manages the firm’s team of interns and oversees all marketing and branding activity. Virginia was born in Boston and moved to Lee County, Florida in 1997. Virginia graduated her high school's International Baccalaureate program and started at the University of Florida with a focus on Architecture. Virginia shares Front Street's passion of giving back to the community and those in need. Virginia's hobbies include photography, cooking, football, movies, music, and spending time with her dog, Brinkley.

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