URP is pleased to welcome PSC Biotech to the Park. The California-based company, which specializes in making cancer-fighting drugs, will move into the former Mentor Biologics building and plans to hire over 100 positions. Drug production is slated to begin in 2015.
“They’re a perfect match for the building and its capabilities,” said Aaron Olver, URP Managing Director. “They’re a great complement to what’s going on in the research park, and they’ll be a good resource for some of the companies in town that might want to use their services.”
California biotech firm to hire 100-plus to make cancer-fighting drugs in University Research Park
By Karen Rivedal, Wisconsin State Journal
A California biotech consulting firm that pledged to create at least 103 local jobs by 2017 will get a $1 million low-interest loan from the state to help it buy an under-used pharmaceutical manufacturing facility in University Research Park where it plans to make cancer-fighting and other types of drugs for other companies.
The former Mentor Biologics building, originally designed to produce an anti-wrinkle compound but never used for that purpose, had been owned by the Morgridge Institute for Research since 2010. It was sold June 30 to Pomona, California-based PSC Biotech Corp., about one year after the Morgridge Institute — a private research partner of UW-Madison — put it on the market, officials said.
A ribbon-cutting ceremony was held Thursday at the facility at 5501 Research Park Boulevard, though drug production isn’t slated to begin there until 2015.
“This is just great news, not only for the research park, but for Madison,” said Aaron Olver, the newly hired managing director of University Research Park who formerly ran economic development efforts for the city. Read more …