On June 3rd, MBBP client Pharmalucence, Inc. announced plans to build a new corporate headquarters and state-of-the-art pharmaceutical manufacturing facility in Billerica, MA. The construction is being financed by a Recovery Zone Facility Bond in the amount of $20 million issued on the company’s behalf by MassDevelopment and purchased by TD Bank. Pharmalucence President and CEO, Glenn Alto, discussed the purpose of the project in the June 3rd press release:
Pharmalucence has long maintained a strong radiopharmaceutical business in Massachusetts. We are investing to fully replace and modernize our infrastructure to ensure we maintain our local presence going forward. This project will also expand our capacity to allow more focus on our contract manufacturing business, bringing growth.
For more information, please visit Mass High Tech or the Pharmalucence press release.
MBBP serves as counsel to Pharmalucence, Inc., and advised it in connection with the structuring, negotiation and documentation of the construction financing.