22 Mar MilliporeSigma investing $65 million in Verona expansion
Madison-based life science company, MilliporeSigma, has announced plans to invest nearly $65 million to expand company operations in Verona.
The project is expected to create roughly 50 new jobs starting this year. Additionally, an economic modeling study estimates the project could generate an additional 43 more jobs in the region, providing more than $182,448 in state income tax revenue annually, according to a release from the Wisconsin Economic Development Corporation (WEDC).
MilliporeSigma provides contract manufacturing services to pharmaceutical customers, streamlining drug development and production, including pre-clinical and commercial manufacturing services, to reduce quality risk and streamline the process of getting therapies to patients faster.
The new 70,000-square-foot expansion in Verona will allow MilliporeSigma to facilitate complex, large-scale manufacturing of increasingly potent compounds, including Highly Potent Active Pharmaceutical Ingredient (HPAPI) and Antibody-Drug Conjugate (ADC). Both compounds have the potential to treat cancer.
“ADCs have posted incredible growth over the last decade and regulator agencies’ approval in recent years demonstrate their promise of a targeted therapy,” said Andrew Bulpin, head of Process Solutions at MilliporeSigma. “This investment underscores our commitment to working with innovators to bring new treatments to patients quickly and more efficiently.”