Takeda Pharmaceuticals (NYSE:TAK) has announced that it is investing $126 million to expand a production facility in Thousand Oaks, one of the largest cities in Ventura County, California.
The money will support constructing a new 15,000-ft2 manufacturing facility and renovating an existing 14,000–ft2 plant.
The mayor of the city, Claudia Bill-de la Peña, joined Takeda officials in a groundbreaking ceremony yesterday.
In a YouTube video, Stephen Hatke, site head of Takeda, says the investment will help it grow its portfolio of treatments while bolstering production capacity for rare disease therapies.
The news coincided with a separate announcement from Capsida Biotherapeutics, Inc. to open a manufacturing plant in the same city. Capsida specializes in developing targeted gene therapies with a next-generation adeno-associated virus engineering platform.
Capsida Biotherapeutics is a relatively new entity, having launched from stealth mode after receiving $140 million in investment. The privately-held company made Thousand Oaks its headquarters.
Osaka, Japan–headquartered Takeda also has a significant history in Thousand Oaks, having set up shop there in 1996. The company currently employs approximately 550 people at the plant.