Velesco Expands with Center for Innovation

Velesco Pharma has expanded its drug formulation, analytical development and cGMP clinical trial manufacturing services with the opening of a new business development office in the greater Boston area. Velesco will be the first life sciences tenant of the Quincy Center for Innovation, a 12,500-sq.-ft. facility providing inexpensive and flexible office space and support services to assist start-up companies and aspiring entrepreneurs. The QCI is expected to open fully September 1.

“The growth of Velesco’s early phase CMC services has led to a need to increase our presence in this global hub for pharma and biotech companies. As we enter our sixth year of operations, we are looking forward to having a presence nearer to our existing and prospective clients,” said Gerry Cox, Velesco’s co-founder and chief operating officer, who will be leading the new office. Velesco has R&D operations in Plymouth, MI and GMP operations in Kalamazoo, MI.

“In Massachusetts we invest in the life sciences because we are choosing to shape our own future,” said Deval Patrick, Massachusetts’ Governor. “We welcome Velesco to Quincy’s new Innovation Center and look forward to them creating jobs and economic opportunities in the region.”

“One of the goals of the QCI is to provide a landing spot for those companies who are not yet located in Massachusetts, but have an interest and need to get acclimated to the region before choosing a permanent location,” said Donna Mavromates, director of the Quincy Center for Innovation.

“We will continue our focus on drug formulation, analytical method development and the supply of cGMP clinical supplies to early phase clinical trials while maintaining an evolving understanding of our clients needs. The Quincy Center for Innovation’s emphasis on working with young vibrant companies makes this location an excellent fit for Velesco,” added Mr. Cox.