Veranova announced today that it plans to move its corporate headquarters to a Massachusetts manufacturing and development facility.
The Devens, Massachusetts, facility is one of the company’s principal sites for manufacturing and development. The FDA-approved facility sits strategically located near the Boston pharmaceutical and biotech hub as well. It also features a center of excellence for development through clinical and commercial manufacturing of antibody-drug conjugates (ADCs), high potent APIs, phosphoramidites and other complex small molecules.
Veranova already has a $30 million expansion underway for the facilities ADC and high potent development and manufacturing capabilities. It announced that investment midway through last year.
The investment in Devens comes as part of a multi-year growth strategy, according to a news release. The company aims to build the leading development and manufacturing partner for complex synthetic pharmaceuticals. Veranova said this strategy spans its facilities in West Deptford, New Jersey, North Andover, Massachusetts, Edinburgh, Scotland and Cambridge, UK.
Re-locating the corporate headquarters means Veranova intends to exit its current headquarters location in Wayne, Pennsylvania. The company plans for existing employees at that Wayne location to continue operating from a new location in Berwyn, Pennsylvania.
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