Xceleron has announced a major milestone in the development of its US business with the signing of a lease on a multimillion dollar facility in Germantown, Maryland. The facility will open in November 2007 housing a new accelerator mass spectrometer (AMS) and employing at least 20 people in scientific, commercial and administrative roles.
The move follows the establishment of Xceleron’s North American business in 2005 when the company began to experience significant demand for its services from what is estimated to be a $1bn market worldwide.
Professor Colin Garner, CEO of Xceleron commented: “This is a major strategic development in the evolution of our company. We will invest up to $7.5m on the purchase of a new AMS and associated equipment to carry out analysis on pharmaceutical drug candidates. Our new facility will allow us to substantially increase our development capacity to better serve our customers worldwide.”
Scott Tarrant, Vice President, Business Development at Xceleron Inc. added “Since Xceleron started its US business in 2005; we have seen growth of in excess of 100% year on year’. Demand for our services both here and in Europe is growing fast and our aim is to continue to improve our service by increasing capacity and bringing our technology and expertise closer to our business partners. We have had tremendous support from Montgomery County and are delighted that we have been able to keep our business in this environment.
Dr. Pradeep Ganguly, Director of the Montgomery County Department of Economic Development, applauds Xceleron's decision to set up its new accelerator mass Spectrometer (AMS) in Germantown.
"Xceleron is a highly innovative life sciences company, with a technology that will greatly advance drug discovery. We are delighted that this UK-based company has decided to expand in Germantown. We welcome them to our thriving life sciences cluster."