Per Governor Hogan:  The governor highlighted the announcement that UNDBIO—a Korean pharmaceutical company with unique proprietary insulin production technology—has leased 25,000 square feet of laboratory space in Rockville and committed $100 million for the research and development and preliminary production of insulin. The company has signed a lease with Twinlabs—a Rockville life science real estate company—to develop a state-of-the-art lab where scientists will produce insulin samples that will require U.S. FDA approval, and eventually enter the U.S. and global markets.

“Maryland is proud to be home to hundreds of life sciences companies that set the bar for biotechnology innovation and fuel our region’s innovative economy, and we are excited to welcome the life-saving work of UNDBIO to Rockville,” said Governor Hogan. “This is yet another shining example that Maryland is open for business and further evidence of our state’s special bond with the Republic of Korea.”


Hallie, Tyler, and Ben Butler (of Butler’s Orchard) have announced that they’ve purchased neighboring Doc Waters Cidery from their aunt Susan Butler and her husband Washington White. Per the announcement, made earlier this week via social media, the Butlers are “committed to continuing and expanding the dream that Susan and Wash had for the Cidery and Orchard.”

The Cidery, which has been open around the corner from Butler’s Orchard in Germantown since 2018, features food trucks, live music, cider made on site, and more. The full statement can be seen below:


The U.S. Department of Treasury’s Office of Terrorism and Financial intelligence (TFI) has selected Germantown-based Amentum, under its METIS Solutions entity, to provide a full range of state-of-the-art investigative and analytic solutions to counter cyber-enabled financial crime under a new multi-award Blanket Purchase Agreement (BPA) contract. The BPA has a maximum value of $500 million over five years.

Per the press release: “Our confidence to meet the Treasury TFI mission stems from our proven performance providing analysis of financial intelligence, and a thorough understanding of the changing financial crimes landscape and illicit financial typologies,” said Jill Bruning, President of Amentum’s Engineering, Science and Technology Group. “We can bring to bear our successful partnerships and collaboration with financial analysis industry leaders, and our extensive knowledge of the many tools and datasets required to safeguard the nation’s financial system against threats.” Under this contract, Amentum will compete for task orders to provide intelligence, financial, and investigative expertise and technology-enabled approaches across Treasury TFI at the Bureau level, including sanctions investigation and enforcement, transaction licensing, analysis and investigation of financial crimes, and other analytic solutions.


Spirit is now open in Gaithersburg (Rio) at the former Charming Charlies, located at 101 Boardwalk Place and in Rockville at the former Pier One, located at 12137 Rockville Pike (Pike Center). The location in Burtonsville at the Former Fashion Bug, located at 15791 Columbia Pike, is expected to open soon. During the Halloween season, Spirit operates over 1,400 store locations in North America. The Spirit Halloween website is open year-round, offering its in-store products online. The stores are usually open for 30 or 60 days prior to Halloween.

Joe Marver created the Spirit Halloween business model, a pop-up store catering to Halloween revelers. Starting with his first pop-up location in the Castro Valley Mall in 1984, he grew Spirit Halloween to 60 seasonal stores nationwide before it was acquired in 1999. His approach to short-term leases, locations, and the stocking of widely varied merchandise was novel in the Halloween retail sector.


Per UFCW Local 400: Today, workers at Zen Leaf cannabis dispensary in Germantown, Md. announced they have officially unionized with United Food & Commercial Workers (UFCW) Local 400.

“The biggest driving factor for us was that management always said the cannabis industry is a new and better world and we’re building it from the ground up, but we didn’t see any of that improvement happening for the workers,” said Ginko Spinel, a patient care advisor who has worked at Zen Leaf for a year and a half. “Now that we have a union, we have a voice on the job and we can contribute to making that vision a reality. I couldn’t be more excited for us to negotiate our first union contract.”


The Securities and Exchange Commission charged Eagle Bancorp, Inc., based in Bethesda, Maryland, and its former Chief Executive Officer and Chairman of the Board, Ronald D. Paul, with negligently making false and misleading statements about related party loans extended by the bank to Paul’s family trusts. Eagle and Paul have agreed to settle the SEC’s charges.

The SEC’s order against Eagle finds that, from March 2015 through April 2018, Eagle failed to include loans to Paul’s family trusts totaling at times nearly $90 million in the related party loan balances included in its annual reports and proxy statements. The SEC’s order also finds that Eagle improperly omitted tens of millions of dollars of loans to Eagle directors and their family members from these related party loan balances. Both SEC regulations and Generally Accepted Accounting Principles (GAAP) required Eagle to disclose these material related party transactions.


Sidney Hechinger opened his first hardware store in Washington D.C. in 1919. In 1953, the company had grown to five stores. Sidney brought in his son, John Hechinger, and his son-in-law, Richard England, as partners. By the early 70s, the company had doubled in size to ten stores. Hechinger and England took the company public in 1972.

John Hechinger Jr. became was named president of the company in 1986. He was the third generation of Hechingers to run the show and reincorporated the company in Delaware the next year. At the time, the company was up to just over 50 stores. By 1995, there were 131 stores in the mid-Atlantic region of the United States. That’s when the competition from Home Depot and Lowe’s forced Hechinger to close almost twenty stores, while reformatting a few others. It was the first major decrease in stores the company had ever seen.


Barnes & Noble has announced the return of their popular Book Haul event. It began on August 12th and will be running through Labor Day weekend.  The bookseller again offers book lovers half-off from over 700 Hardcover books. While supplies last, there are books included in every genre and all stores nationwide are participating, as well as online at bn.com/bookhaul. There are Montgomery County Barnes & Noble locations in Gaithersburg’s Rio Lakefront and Rockville’s Congressional Plaza. In addition to books, the sale includes deals on board games, planners, LEGOs, tea, and more.

Per the press release: “This is the biggest Book Haul in our history,” said Jackie De Leo, Chief Merchandising Officer, Barnes & Noble.  “With half-off so many exciting and new hardcover titles during Book Haul, it gives our customers a fantastic opportunity to build out their bookshelf. The choice is wider than ever and for those who are quick on their feet into our stores, there are so many brilliant titles to be had.”


Silver Spring-based Aziyo Biologics (located in Calverton),  a commercial-stage regenerative medicine company, announced that Aziyo co-founder C. Randal (Randy) Mills, Ph.D. has assumed the President and Chief Executive Officer role on an on-going basis. Dr. Mills, who is internationally recognized for his contributions to the field of regenerative medicine, has served as the Company’s interim CEO since June 2022. The company also announced that it has entered into a $25 million credit facility from SWK Holdings Corporation.

“Since creating Aziyo in 2015, Randy and I have worked together to build a company where regenerative medicine is used to its full potential,” said Kevin Rakin, co-founder and executive chairman. “Randy is a visionary leader with a track record of creating significant shareholder value in regenerative medicine. The Board and I look forward to partnering with Randy as we make his vision for this company a reality.”


Choice Hotels today announced that it has completed the acquisition of the franchise business, operations and intellectual property of Radisson Hotels Americas for approximately $675 million from Radisson Hotel Group. The company has been located in Montgomery County since 1968, when it moved into a campus of three separate neighboring buildings it occupied on Columbia Pike in Silver Spring. Choice Hotels moved to its current headquarters at 1 Choice Hotels Circle in Rockville in 2013. The company will move down the street to Pike & Rose upon the completion of a new 276,000 SF building.

With the close of this transaction, Choice Hotels International has added approximately 67,000 rooms, expanding its presence in the higher revenue upper upscale and upscale full-service segments, and bolstering its core upper-midscale hospitality segment, particularly in the West Coast and Midwest of the United States.


A joint-venture between Minkoff Development and South Duvall has signed a lease with Hughes Network Systems, LLC (HUGHES) to build a 140,000 square foot build-to-suit project on Montgomery College’s Germantown Campus. The campus currently is home to the Pinkney Innovation Complex for Science and Technology at Montgomery College (PIC MC) with Holy Cross Germantown Hospital as its anchor tenant. Located at 19710 Observation Drive in Germantown, Maryland, adjacent to the Hughes headquarters complex (11717 Exploration Lane), the new high-tech manufacturing building will house production of Hughes satellite broadband and networking equipment. Full press release below:

“This new facility reflects our long-standing commitment to Montgomery County, as a local employer and business leader for more than 50 years and will help Hughes advance our mission of connecting the unconnected around the world with innovative satellite and networking solutions,” said Jim Muir, III, vice president, corporate real estate at Hughes. “We look forward to inviting students from PIC MC to learn and grow with us and continuing to engage with the community where so many of our employees live and work.”


View More Stories