Japanese Firm Plans To Invest $20M In City
Published: Oct 03, 2005
A Japanese drug research company opening its East Coast headquarters at the University of Maryland, Baltimore's bioscience park is planning a $20 million investment here this year. A U.S. subsidiary of Japan-based Shin Nippon Biomedical Laboratories Ltd. this fall is opening 40,000 square feet of research space on the top two floors of the first building in UMB's new BioPark on the city's west side. The first clinical trials are to start in late November. Executives at the company, SNBL Clinical Pharmacology Center Inc., see untapped demand from pharmaceutical and biotechnology companies ready to put drugs into clinical testing, but with limited places to do so.