Lithuania's Biotechpharma investing EUR 25 mln in Boston
2020-01-09, 16:30
Published in
Economy
Reuters Scanpix / Ralph Orlowski
Biotechpharma, a Vilnius-based company controlled by scientist and businessman Vladas Bumelis, has founded a biotechnological pharmaceutical company in the US city of Boston, with around 25 million euros planned to be invested in the project. Biotechpharma CEO Giedrius Zunda says the Boston company will engage in similar activities as the Vilnius company, but it will be closer to US customers. The US company is expected to launch its process development laboratory in mid-2020 and start production in late 2021.
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