According to Matthew Farabaugh, humanity is entering the first phase in a new revolution of medicine. “The promise of finding cures for diseases by altering our genetic makeup is no longer theory – it is a reality,” he said. “However, the recipe for success requires capital, expertise, facilities, equipment, and strong foundational systems to create a safe and high-quality product.”
Farabaugh and the founders of SK pharmteco saw a unique opportunity to bring these elements together and breathe new life into the former GSK Global R&D headquarters in King of Prussia. Since 2019, the management team and Farabaugh have focused on executing a bold plan to deliver best-in-class development and manufacturing capacity at scale.
SK pharmteco offers contract development and manufacturing services for cell and gene therapy clients. The organization’s mission is to save lives by accelerating the development and manufacturing of advanced therapies, striving for a future where advanced therapies are available and affordable for every patient.
“Matt has been a leader in the dynamic and rapidly evolving field of cell and gene therapy,” said his colleagues. “He has quietly but consistently demonstrated exceptional leadership, vision and influence in an arena of scientific and business titans.”
It’s Farabaugh’s passion for winning, high ethical standards, and a commitment to enabling scientific success through smart financial decision-making that has been instrumental in raising $850 million in capital despite market headwinds while driving substantial revenue growth and administering programs that have delivered therapies to oncology, HIV and rare diseases patients. In addition, Farabaugh and his team have been able to drive YoY revenue growth of 4.3x in 2022, 2.6x in 2023, and the company is on target for 2.3x growth in 2024.
Farabaugh is currently scaling up a 750,000 square-foot biotech campus that will be one of the world’s largest end-to-end cell and gene therapy manufacturing facilities with the goal of delivering safe, efficacious, affordable therapies to patients on a global scale.
“What makes Matt unique is his deep understanding of biotechnology, coupled with financial acumen, strategic vision and an entrepreneurial spirit,” said his colleagues.
According to Farabaugh, who you surround yourself with matters in any industry as a leader. “Don’t be afraid to hire the smartest and most talented people you can – there are more competent and experienced people that fill gaps in your skill set and that’s okay,” he said. “Part of your journey as a leader is finding ways to motivate your team and bring those talents to the table every day – let them shine and lean into the servant leader mentality.”
