Nationwide Children's avoids $1M in taxes for gene therapy subsidiary

Columbus, Ohio-based Nationwide Children's Hospital was granted a 15-year, 100 percent tax abatement for its new for-profit gene therapy subsidiary, according to the Columbus Dispatch.

The deal exempts Andelyn Biosciences from paying an expected $1.3 million in taxes. The money would have gone to Columbus City Schools.

In return, hospital officials agreed to expand services offered to public school students. 

Andelyn Biosciences, which will be a gene therapy manufacturing company, is expected to begin operations in late 2020.

Nationwide Children's has played a big role in the gene therapy field and released 20 gene therapy products last year. 

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