Flush with investment cash and pushing apps for a new nasal spray treatment for breakthrough cancer pain in the U.S. and Europe, the UK's Archimedes Pharma says the time is ripe to establish a beachhead in the U.S. And it's picked a site in Bedminster, N.J. for its new U.S. headquarters.
New Jersey, which has an aggressive biotech industry development group, backed Archimedes' move with a grant to support the creation of 75 new jobs. Archimedes--which has high hopes for PecFent--says it's recruiting sales & marketing, regulatory, finance, human resources and medical affairs staffers. The company raised $100 million last March to establish a marketing arm for PecFent. And its CEO told the Star-Ledger that it looked at Pennsylvania, New York and New Jersey before making its site selection.
"The new U.S. headquarters in Bedminster is a significant milestone in Archimedes' development as an emerging global specialty pharmaceutical company," said CEO Jeffrey H. Buchalter in a statement. "With Archimedes' rapidly growing and diverse drug delivery technologies and products portfolio, we are in the process of establishing our own U.S. organization and are actively recruiting top-tier senior-level management positions to support market penetration across the USA and globally. The BEIP grant awarded to us by the state was the deciding factor when choosing a U.S. location."
- read the Archimedes release for more info
- here's the story from the Star-Ledger