Investments from Merck KGaA, Beacon Pharmaceuticals and Genomenon will provide new jobs for local economies.
Biotech job hunters rejoice. Multiple companies are expanding across the U.S. and adding jobs.
In Jupiter, Fla., more than 130 jobs will be created as New York-based Beacon Pharmaceuticals plans to open a biotech accelerator in that state. According to reports, the 137 jobs Beacon has committed to creating will have average annual salaries of more than $70,000.
Beacon’s accelerator will be able to help startups take their assets from discovery through clinical testing. The company will open a 150,000 square-foot facility and has the potential to expand to about 200,000 square feet. If things go well, within five years, the accelerator could employ up to 200 people, the South Florida Sun Sentinel reported. If all goes as anticipated, the accelerator could provide capital and mentoring to as many as 50 companies, according to the report.
Nancy Torres Kaufman, executive chairwoman of privately-owned Beacon Pharmaceutical, told the Sun Sentinel that 38 companies are already in discussion with Beacon for a spot in the Florida accelerator.
Far up the eastern seaboard, Merck KGaA, Darmstadt, Germany announced plans to invest $70 million to expand a research and development facility in Massachusetts. The new facility will add about 145,000 square feet of space and provide collaborative working and laboratory space for the 400 new and current R&D employees. The Bay State facility will focus primarily on immunology, immuno-oncology and oncology, a cornerstone of Merck KGaA’s business. Construction of the expansion is expected to be completed by 2021, according to the report. The building will offer wet labs, office space and a cafeteria for the campus. In a statement, Luciano Rossetti, Head of Global Research & Development at the Biopharma business of Merck KGaA, said the investment in Massachusetts is a strengthening of the company’s innovation footprint in the United States.
This most recent investment by Merck KGaA caps off a total of $150 million infrastructure investment in Massachusetts over the past few years.
Michigan-based Genomenon is also eying a small increase in headcount. Although not as large as Beacon’s or Merck KGaA’s, Genomenon intends to use a $2.5 million investment to add on three additional employees. The new employees will increase the headcount of the company to 20, X-conomy reported. The new employees and the investment will support the company’s artificial intelligence-powered search engine, Mastermind. The engine is able to rapidly search scientific publications for information on gene variants that will help doctors make quicker diagnoses for patients with cancer or other rare diseases. Mastermind is currently used by more than 2,200 clinicians in 35 countries and 200 labs, according to the report.
