New biotech co. to bring 100 jobs to Madison
A California-based biotechnology company is expanding with a new facility in Madison that promises to bring more than 100 jobs, according to a news release.
Gov. Scott Walker’s office said Friday morning that PSC Biotech Corp.’s new subsidiary called BioTechnique is planned in University Research Park.
BioTechnique will manufacture sterile injections for use in treating cancer at the 37,000-square-foot facility. The company is expected to be operating next year, and it’s made a deal to create the 100 jobs within the next three years, according to Walker’s news release. As part of the deal, the Wisconsin Economic Development Corp. will provide a $1 million loan to help purchase equipment. The company is investing $11.5 million in the project, according to the news release.
A ribbon-cutting ceremony was held Friday at the building, which PSC Biotech bought from private research institute Morgridge Institute for Research.
PSC Biotech Corp. was founded in 1996.