A group of independent investors, led by the Municipal Employees' Retirement System of Michigan, has invested $9.8 million in Grand River Aseptic Manufacturing
A group of Michigan and Indiana based investors, led by the Municipal Employees' Retirement System (MERS) of Michigan, has invested $9.8 million in Grand River Aseptic Manufacturing (GRAM), a contract manufacturer of sterile injectable pharmaceuticals that offers services for aseptic vial and syringe filling. The company plans to use the funds to expand its range of services and hire additional staff. "We are delighted with the strong investor response, especially by MERS," said GRAM president Tom Ross. "Their considerable support, in combination with backing from many private investors in our community, is a strong indicator that we're headed in the right direction. This funding enables us to expand our capabilities, improve our facility and advance our customer reach, all while creating more highly technical, high-paying jobs in west Michigan. We have a great company, fantastic employees and a bright future," he said.
MERS of Michigan is one of the 200 largest pension funds in the U.S., with an investment program that is reportedly worth nearly $9 billion. "We are proud to be investing in Michigan's renaissance," said Jeb Burns, MERS Chief Investment Officer. "GRAM represents a unique opportunity right here at home---world class talent, a blue chip roster of customers and advanced manufacturing that will lead our state's economy. We're excited to grow alongside this Michigan company."
GRAM offers services including sterile product development and manufacture, lyophilization, terminal sterilization, vial and syringe filling, as well as analytical and microbiological services.