February 16, 2023 – Government of Canada: For over a decade, a family-owned biotechnology company on PEI has been making a name for itself around the globe, developing innovative and affordable pharmaceutical solutions. With Government of Canada support, Somru BioScience Inc. is expanding operations to provide enhanced research and laboratory support for clients developing biotherapeutic treatments.
Ginette Petitpas Taylor, Minister of Official Languages and Minister responsible for ACOA, announced a total federal investment of $1,950,000, through the Regional Economic Growth through Innovation (REGI) program for two projects with Somru BioScience Inc.
The contribution will help the company launch a contract research services division in Charlottetown in response to increased market demand in the biologics and biosimilar drug market.
With the help of this federal investment, the company will proceed with a 15,000 square foot expansion that will further position the company as a global leader. Along with new, advanced equipment, this will give Somru the capacity to offer large molecule bioanalytical services to pharmaceutical development companies in North America and Europe.
Read the full news release here