Denton, TX
The Denton City Council has unanimously approved an economic development agreement with Novartis Gene Therapies, paving the way for a potential $280 million investment in a new manufacturing facility at 2101 Shady Oaks Drive. The project, if realized, will produce advanced isotopes and radiopharmaceutical drugs for metastatic prostate cancer and gastroenteropancreatic neuroendocrine tumors.
The proposed facility spans approximately 50,000 square feet across three buildings on 20 acres, previously operated by U.S. Radiopharmaceuticals but inactive since 2009. Novartis plans to invest $71 million in site improvements across three phases, including state-of-the-art equipment and infrastructure upgrades.
Economic projections suggest the project could generate $4.8 million in city revenue over ten years, create 150 new jobs, and foster research collaborations with local universities, positioning Denton as a regional life sciences hub. To incentivize the company, the city is offering $3.23 million in tax abatements once the facility becomes operational.
City officials highlighted the potential for broader economic and scientific impact. “This project transforms an underutilized site into a cornerstone of innovation for Denton and the DFW region,” said Council Member Brian Beck. Council Member Suzi Rumohr added, “With partnerships with local universities and returning this property to productive use, Denton could become a key player in the pharmaceutical industry.”
Novartis, headquartered in Switzerland and one of the world’s largest pharmaceutical companies, has a global presence in 118 countries and has consistently invested in advanced therapies to expand patient access to innovative medicines.
The Denton facility represents a strategic expansion for Novartis in the gene therapy and radiopharmaceutical space, reinforcing the city’s growing prominence in the biotech sector and providing a foundation for future life sciences initiatives.
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