WI: PSC Biotech Launches New 100-New-Job Venture in Madison
16 Sep, 2014
PSC Biotech Corp., life science company headquartered in Pomona, Calif., with customers around the world, is opening a new 37,000-square-foot facility in the University Research Park in Madison and plans to create about 100 jobs in the next three years.
PSC has created a new subsidiary — called BioTechnique — that will manufacture high-potency sterile injections, such as those used in the fight against cancer. BioTechnique will help address a global shortage of sterile injectable products. The facility is expected to be fully operational next year.
“I applaud PSC Biotech for making this level of commitment to Wisconsin and congratulate the company embarking on an initiative that will continue to strengthen Madison’s position as a national leader in biotech and bioscience,” said Governor Scott Walker. “The Madison area is a prime location for the bioscience industry, ranking among the top metro areas in the country when it comes to the strength of our bioscience sector. PSC’s presence builds on our bioscience hub, bringing jobs to our area and fueling our economy.”
“It is inspiring to me just how many individuals played a key role in the creation and founding of BioTechnique—the state of Wisconsin, the University of Wisconsin, the Wisconsin Alumni Research Foundation, the Morgridge Institute for Research System and many others,” said PSC Biotech CEO John Clapham. “We are looking forward to fostering strong working relationships with the local academic institutions to create synergies, collaborations, and partnerships, and by being located close to the University of Wisconsin and the Madison Area Technical College, BioTechnique will be able to tap into the area’s technical and intellectual capabilities and be an incubator for jobs.”
State and company officials, as well as representatives of the organizations that played a key role in the project, attended a ribbon-cutting ceremony today at the facility.
The Wisconsin Economic Development Corporate (WEDC) has agreed to provide a $1 million award from its Business Opportunity Loan Fund to help purchase equipment for the facility. The company has agreed to create at least 103 full-time jobs at the facility by the end of 2017 and invest $11.5 million in the project.
“WEDC applauds PSC for making the decision to expand in Madison, when this global company could have established this state-of-the-art facility anywhere in the world,” said Ryan Murray, deputy secretary and COO of WEDC. “With this commitment, PSC will bring more than 100 family-supporting biotech jobs to the Madison area.”
PSC Biotech acquired the building from the Morgridge Institute for Research (MIR), a private research institute affiliated with the University of Wisconsin-Madison.
BioTechnique will be a contract manufacturing organization of sterile injectable fill and finish for clients and will provide high quality deliverables at all stages of the process from early stage contract manufacturing to commercial production.
“There is a critical need for cytotoxic (oncology) and high-potency contract pharmaceutical manufacturing due to a shortage of manufacturers in the industry,” Clapham said. “Because of the severe shortage of these specialized manufacturing capabilities, several cytotoxic drugs are currently listed on the FDA Drug Shortage List. By manufacturing those medicines in the U.S., BioTechnique will provide much-needed capacity, shorten the supply chain to the patient, and literally help their clients to save lives.”
PSC Biotech Corp. was founded in 1996 with the vision of providing life science companies with mission-critical professional services to ensure that their health-care products are manufactured to the highest standards and meet all regulatory requirements.
Over the last 18 years, the company has grown and diversified to become a one-stop life science service and solution provider that offers consulting, software, contract pharmaceutical manufacturing, and strategic and investment advisory services to more than 350 clients in more than 23 countries. PSC currently employs a staff of more than 250 throughout our strategically located offices in North America, Latin America, Europe, Asia and the Middle East.