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.”
The two-story commercial building will also be one of the company’s largest dedicated HPAPI manufacturing facilities, the release added.
The project is supported by the WEDC, which has authorized up to $200,000 in state income tax credits over the next three years, an offer contingent upon the number of actual jobs created.
“Wisconsin is proud to have innovative and forward-thinking companies like MilliporeSigma develop here,” said Missy Hughes, secretary and CEO of WEDC. “Companies have a choice when deciding to expand, and MilliporeSigma’s decision to invest in Verona is a testament to Wisconsin’s strong business climate and dedicated workforce.”
MilliporeSigma has four locations in Wisconsin focused on biochemical production and manufacturing of complex pharmaceutical ingredients.
The expansion project is slated to break ground this spring and completed by mid-2022.
