MADISON, Wis.--(BUSINESS WIRE)--
Investments, a subsidiary of California based PSC
Biotech Corporation, is proud to announce the acquisition of a high
potency sterile injectable facility from the Morgridge Institute for
Research (MIR), a private research institute affiliated with the
University of Wisconsin-Madison. The contract manufacturing operation
will be named BioTechnique
and will be a newly formed subsidiary of PSC
The 37,000 square foot sterile injectable fill finish facility, located
in Madison’s University Research Park was constructed in 2008 by Mentor
Biologics, Inc. and later conveyed to MIR.
Investments partnered with Steve Mixtacki, Chief Financial and
Operating Officer of the Wisconsin Alumni Research Foundation (WARF),
an affiliate of MIR, who said “…PSC has been a pleasure to work with,
and we wish them much success at 5501 Research Park Boulevard”.
Investments was very pleased with the outcome of the acquisition.
“This was a great team effort from PSC Investments to help drive future
growth potentials for PSC, and more importantly, help meet the high
demand for cytotoxic and high potency fill-finish contract manufacturing
services of sterile injectable products”, stated Raphi Hanessian,
Managing Director of PSC
Investments. The acquisition was financed with an SBA real estate
loan from East
West Bank in partnership with the CDC
Small Business Finance team.
The recent acquisition of the pharmaceutical manufacturing facility will
the opportunity to provide specialized filling services for cytotoxic,
high potency, biologic, and other sterile injectable drugs. The
injectable facility is state-of-the-art for filling and finishing high
potency compounds and was designed to meet the highest safety levels for
manufacturing personnel, as well as to minimize cross contamination, and
be compliant with current Good Manufacturing Practices (cGMP) for
sterile injectable manufacturing.
will be customer ready for sterile liquid and lyophilization fill-finish
production in 2015.
When fully operational, BioTechnique
is expected to employ over 100 technical professionals in Madison,
is a premier service provider of products and professional services to
life science companies, helping them achieve scientific and commercial
provides a full spectrum of professional consulting services, investment
advisory services, quality management systems, and contract
manufacturing operations to assist our clients to achieve regulatory
approval and to maintain compliance to the standards of the US Food and
Drug Administration (FDA) and European Medicines Agency (EMA).
To learn more about the acquisition or potential investment
opportunities, please contact:
|Raphi Hanessian, Managing Director
Phone: (909) 784-3350
|East West Bank|
|James P. Lin, Senior Vice President, Deputy Director of Business
|Samuel C. Li, Assistant Vice President & Relationship Manager
Phone: (626) 363-7410
|CDC Small Business Finance|
|Kurt Chilcott, CEO/President
|Armen Madatyan, Senior Commercial Lender
Phone: (626) 529-0712
PSC InvestmentsRaphi Hanessian
Source: PSC Investments