ETFOptimize | High-performance ETF-based Investment Strategies

Quantitative strategies, Wall Street-caliber research, and insightful market analysis since 1998.


ETFOptimize | HOME
Close Window

Somerset County Welcomes Cellares’ $255M Investment Expected to Create 350 Local Jobs

Cellares’ New Facility Joins Somerset County’s ‘Life Sciences Hub’

Cellares, an innovative cell therapy manufacturing company, has announced a $255 million series C fundraise to launch its new location in Somerset County. The 118,000-sq. ft. manufacturing site in Bridgewater, New Jersey is expected to create up to 350 local jobs. To commemorate the opening of this facility, Cellares will host local dignitaries for a ribbon-cutting ceremony on Monday, January 29th, to celebrate its forthcoming contributions to the local economy and support for cell therapy patients in need.

“We’re excited to welcome Cellares to the life sciences hub of New Jersey,” said Somerset County Commissioner Director Shanel Y. Robinson. “These are the kinds of businesses that our economic development team is committed to bringing to Somerset County.”

Cellares is moving into 95 Corporate Drive in Bridgewater, the building formerly occupied by Pfizer. Cellares describes the new facility as a Smart Factory, and once complete, will be the second Smart Factory operated by the world’s first Integrated Development and Manufacturing Organization (IDMO), dedicated to clinical and industrial-scale cell therapy manufacturing.

“The opening of this facility marks a tremendous milestone towards Cellares’ mission of accelerating access to life-saving cell therapies to meet total global patient demand,” said John Tomtishen, Sr. Vice President and General Manager of the Bridgewater IDMO Smart Factory. “We look forward to partnering with the state and local community to create 350 job opportunities for highly talented individuals as we bring the facility online to manufacture tens of thousands of cell therapy drug products per year.”

The facility will seamlessly integrate “advanced robotics, purpose-built technology, and interconnected software” that “will be capable of producing 40,000 cell therapy batches per year”, which is an order of magnitude greater than what is currently possible via conventional contract manufacturing and development organizations operating out of comparably sized facilities. This will ultimately enable developers to effectively scale up manufacturing so no patient on the waitlist dies while waiting for a life-saving cell therapy.

“Not only does Cellares join a thriving Life Sciences industry here, but they reinforce the fact that many of the cures needed by the world come from Somerset County,” said Jessica Paolini, Manager of Economic Development for Somerset County. “We are investing in infrastructure critical to the growth and retention of the life sciences, including a recent $3 million investment towards a new training program at Raritan Valley Community College, which will produce the talent needed by cell and gene therapy companies like Cellares.”

About Cellares

Cellares is the first Integrated Development and Manufacturing Organization (IDMO) and takes an Industry 4.0 approach to mass manufacturing the living drugs of the 21st century. The company is both developing and operating integrated technologies for cell therapy manufacturing to accelerate access to life-saving cell therapies. The company’s Cell Shuttle integrates all the technologies required for the entire manufacturing process in a flexible and high-throughput platform that delivers true walk-away, end-to-end automation. Cell Shuttles will be deployed in Cellares’ Smart Factories worldwide to meet total patient demand for cell therapies at global scale. Partnering with Cellares enables academics, biotechs, and pharma companies to accelerate drug development and scale out manufacturing, lower process failure rates, lower manufacturing costs, and meet global patient demand.

The company is headquartered in South San Francisco, California with its commercial-scale IDMO Smart Factory in Bridgewater, New Jersey. The company is backed by world-class investors and has raised over $355 million in financing.

For more information about Cellares, please visit cellares.com.

Contacts

Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms Of Service.


 

IntelligentValue Home
Close Window

DISCLAIMER

All content herein is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor should it be interpreted as a recommendation to buy, hold or sell (short or otherwise) any security.  All opinions, analyses, and information included herein are based on sources believed to be reliable, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. We undertake no obligation to update such opinions, analysis or information. You should independently verify all information contained on this website. Some information is based on analysis of past performance or hypothetical performance results, which have inherent limitations. We make no representation that any particular equity or strategy will or is likely to achieve profits or losses similar to those shown. Shareholders, employees, writers, contractors, and affiliates associated with ETFOptimize.com may have ownership positions in the securities that are mentioned. If you are not sure if ETFs, algorithmic investing, or a particular investment is right for you, you are urged to consult with a Registered Investment Advisor (RIA). Neither this website nor anyone associated with producing its content are Registered Investment Advisors, and no attempt is made herein to substitute for personalized, professional investment advice. Neither ETFOptimize.com, Global Alpha Investments, Inc., nor its employees, service providers, associates, or affiliates are responsible for any investment losses you may incur as a result of using the information provided herein. Remember that past investment returns may not be indicative of future returns.

Copyright © 1998-2017 ETFOptimize.com, a publication of Optimized Investments, Inc. All rights reserved.