FREDERICK, Md., Oct. 2, 2009 - The Matan Companies has teamed up with Federal Capital Partners to complete the financing for the development of the National Cancer Institute's 330,000-square-foot Advanced Technology Research Facility (ATRF) at Riverside Research Park in Frederick.

The new building will support the NCI's Advanced Technology Partnerships Initiative (ATPI), a major effort to cut both the time and cost of translating basic research into new technologies and treatments for patients with cancer and AIDS.

SAIC-Frederick, the prime contractor for NCI's national laboratory in Frederick, is facilitating ATPI partnerships for the government and is leasing the space at Riverside Research Park.

The state-of-the art $200 million office and laboratory facility will commence construction immediately and is slated for delivery in mid 2011. As part of the larger 177 acre Riverside Research Park, the National Cancer Institute's 62 acre campus will have expansion capacity reserved for life-science and advanced technology partner organizations.

NCI Director John E. Niederhuber, M.D., launched the initiative, described in the NCI's annual plan and budget proposal to Congress for fiscal 2010: Advanced Technology Partnerships Initiative (plan.cancer.gov).

"This site will be the center of an intensive new effort to bring together government, industry, academic, and nonprofit partners, working side-by-side, utilizing technological resources second to none, to more rapidly translate our latest genetic and molecular discoveries about cancer into effective new treatments that benefit patients," Niederhuber said during the ceremonial groundbreaking late last year.

Matan had been seeking financing for the project during an especially challenging time for the economy. The company and FCP partnered to secure the $52 million construction financing from Wells Fargo Bank and US Bank. "Today's financing environment demands creative approaches to bring large, high profile projects like this to the market. The ATRF is one of the largest private biotech developments in the country to secure construction financing and it is a credit to everyone involved," said Mark Matan, Principal of the Matan Companies, which will develop and manage the project.

NCI-Frederick will initially move about 375 employees into the facility and then add another 200 or so new hires over the next five years. The facility will consolidate operations now housed in more than 30 aged buildings on the NCI-Frederick campus.