With this acquisition, Velesco has doubled its formulation and analytical lab space. The development and clinical manufacturing company said the expansion will allow the company to maintain its rate of growth that it has experienced in recent years.
Gerry Cox, Velesco chief operating officer, told us, “Velesco Pharma has experienced increased demand for our analytical and formulation services in recent years and the time has come to create the capacity commensurate with this demand.”
Cox said the expansion will allow sponsors to advance new medicines into the clinic faster.
“Our new building in Wixom, MI was acquired earlier this year. The fit-out is nearing completion and our laboratory staff will be relocated to the expanded space prior to the end of the year,” said Cox.
According to a statement by Velesco’s CEO Dave Barnes, the company will be increasing its scientific team after this acquisition. The expansion will allow the company to meet the growing demand for formulation and analytical services.
The company will continue to offer research and current good manufacturing practice (cGMP) services during its move to the new laboratory. These services include formulation development, analytical method development and validation, release and stability testing, and clinical manufacturing.