Clearwater, Florida -- CoreRx, Inc. today announced plans for an approximately $2 million expansion of its manufacturing capabilities in Clearwater, Florida. The expansion will introduce a new facility for hormone development, clinical trial manufacturing and commercial manufacturing capabilities, while adding approximately 25 additional employees to the Clearwater workforce over time.
“This project represents a significant expansion in both the size and mission of CoreRx”, said Todd R. Daviau, President and CEO. “We envision Clearwater as a center of excellence for the development and manufacture of pharmaceutical products, optimally organized to support our client’s never-ending and growing pipeline of investigational medicines and potential new medicines.”
“These therapies are increasingly important in the treatment of serious diseases and are a growing part of our client’s pipeline of potential new therapies,” said Brian R. McMillan, Vice President of Product Development. “This initiative is designed to accelerate the development of new medicines through the closer alignment of our research and development, and manufacturing.”
The acquisition of the Myerlake II site will add approximately 40,000 sq.ft. of additional manufacturing and office space. CoreRx plans to begin construction in the buildings across from its current 35,000 sq.ft. facility in the ICOT center campus. It will house three additional suites dedicated to Process Development and Clinical Manufacturing, where investigational medicines will be produced to support clinical trials.
Construction of the current CoreRx (Myerlake I) site was completed in July 2012. The Myerlake I site also was designed to accommodate future expansion, and the decision to expand reflects both the initial success of CoreRx and some of the factors that first drew them to build in this area. These include the increasing abundance of biotechnology knowledge, education and training in the Tampa area, which is well on its way to creating a large and well-qualified workforce, as well as the inception of the USF College of Pharmacy, of which the founding members of CoreRx are an integral part.
Work on the expansion is expected to begin in May 2013 and be completed by the middle of Q4 2013.
About CoreRx, Inc.
CoreRx is a contract research organization providing customized pre-formulation services, formulation development, manufacturing, and analytical services to pharmaceutical, biotechnology, academic, and veterinary clients. The company is renowned for reliably expediting early development activities to speed potential drugs to clinical trials while applying stage-specific scientific knowledge and experience. CoreRx's unique corporate structure creates project teams that work intensively with each client, bringing an extension of its own organization into the CoreRx lab.
As a fully cGMP contract facility, CoreRx provides formulation development, analytical, and clinical material resources, utilizing a variety of multi-layer tablet equipment for combination products. CoreRx also offers development and manufacture of multi-particulate combination drug products. Whether a client needs multiple tablets in a capsule, pellets, granules, nano-particles, co-processed spray dried powders or multiple powders in capsules, CoreRx has the solution.
Keep on top of new developments at CoreRx and throughout the drug development industry by following www.twitter.com/CoreRx and for more detailed information about the company, visit www.corerxpharma.com.
For further information, please contact:
CoreRx – Jenna Leitao, firstname.lastname@example.org or 727-259-6950