Velesco acquires facility, triples clinical manufacturing capacity
Michigan, US-based contract development and manufacturing organisation (CDMO), Velesco Pharma, announced the purchase of a facility which will triple the company’s manufacturing capacity.
The building added to Velesco’s assets features a processing suite space, which is expected to allow Velesco to provide enhanced current good manufacturing practice (cGMP) capabilities.
A spokesperson for Velesco also told us that the building, which was previously owned by a constructions company, will include a warehouse and a materials management area, and will manufacture oral liquids, semi-solids and solid dose products used in early phase clinical trials.
The facility will be supported by the company’s existing quality check release and stability testing laboratory, also located in Wixom, while the company also plans to consolidate its manufacturing site in Kalamazoo, MI.
Dave Barnes, Velesco’s CEO, commented on the purchase, stating that it will enable the company to meet growing client demands, “while still maintaining our science-focus and flexible approach to client projects.”
The new facility is set to be fully operational by the end of this year.
Steady expansion steps
Formed in 2007 by former Pfizer Michigan Research and Development (Pharmaceutical Science) colleagues, Velesco has been making steady steps building on its expansion during the past years.
In late 2018, the company announced a doubling of its analytical research and development capabilities with the acquisition of a building near its facility in Wixom, concurrently announcing an increase of its scientific team.
The company’s CEO told us then that this move answered increased market demands and that it would allow sponsors to advance new medicines into the clinic faster.
The expansion followed the addition of compound management services to the company’s portfolio, aiming to meet increased demand for materials management, in 2016.
