Photo | Courtesy of Veranova
Congresswoman Lori Trahan (D-MA) speaks during the groundbreaking ceremony for Veranova's expansion efforts.
6 hours ago
Biomanufacturer breaks ground on $50M expansions in Devens, after naming site its HQ
Photo | Courtesy of Veranova
Pharmaceutical ingredient developer and manufacturer Veranova is investing $50 million in its Devens facility after naming the site as its headquarters.
Pharmaceutical ingredient developer and manufacturer Veranova is expanding its facility in Devens after designating the site as the company’s headquarters in March.
Veranova broke ground on Wednesday on a 9,000-square-foot expansion to its Devens site, which will see it construct a process development laboratory and two good manufacturing practice suites, according to a Thursday press release from the firm. The goal of the expansion is to boost Veranova’s development and production capabilities for complex molecules used in next-generation therapeutics.
The groundbreaking came after Veranova announced on June 16 an additional planned expansion of its good manufacturing practice capabilities at the site, citing strong demand for biomanufacturing capabilities in the United States. Combined, the two expansions will represent more than $50 million in investment and create up to 70 new jobs.
“The fight to end cancer once and for all depends on trailblazers like Veranova, where innovative work in specialty medications is reshaping treatment options for cancer and rare diseases,” Congresswoman Lori Trahan (D-MA) said in the Thursday press release. “Their new facility in Devens will create good-paying jobs, boost economic growth, and bolster the domestic supply of active medical ingredients, ensuring Massachusetts stays at the forefront of health care innovation.”
Veranova’s investment in its Devens facility, located at 25 Patton Road, comes after the firm moved its headquarters there from Wayne, Pennsylvania in March, according to a March 3 press release from the firm. Veranova has additional locations in North Andover, New Jersey, and two locations in the United Kingdom.
“This expansion reflects Veranova’s deep commitment to supporting our partners in the development and manufacture of complex, life-saving therapies,” Veranova CEO Mike Riley said in the Thursday press release. “By enhancing our capabilities in Devens, we’re not only investing in innovation and growth, but also strengthening domestic infrastructure for the production of critical medicines like ADCs and other highly potent compounds.”
Formerly known as Johnson Matthey Health, Veranova was launched as an independent company in 2022 after being acquired from Johnson Matthey by New York-based Altaris Capital Partners, according to a press release from Veranova.
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the manufacturing and real estate industries.
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