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Innovation & Job News

Velesco Pharmaceuticals leverages new facility for growth

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Velesco Pharmaceutical Services is a homegrown life sciences company that is excited to be doing more of its business with local companies.

The Michigan Life Science Innovation Center-based company recently signed a deal with Ann Arbor-based Rubicon Genomics to manufacture the company's kits under the Good Manufacturing Practice (GMP) conditions required by the FDA for clinical diagnostics.

"This is a terrific opportunity for us to work with a company here in the Ann Arbor region," says Gerry Cox, COO of Velesco Pharmaceutical Services. "Most of our clients are in the East or West coasts."

Velesco Pharmaceutical Services got its start when Pfizer pulled up its stakes from Ann Arbor in 2007, allowing some its scientists to start their own company in Ann Arbor. Today it offers pharmaceutical consulting and laboratory services and just opened a plant in Kalamazoo that makes dosage forms for clinical trials.

"That kind of expansion (adding the Kalamazoo plant) has allowed us to expand our client base," Cox says. "We can now serve small and medium-sized pharmaceutical companies. The Kalamazoo facility has really helped us fuel our growth."

Today Velesco Pharmaceutical Services employs 15 people, including six at the Michigan Life Science Innovation Center, which is operated by Ann Arbor SPARK. It has watched its revenue grow 40 percent over the last year and the company is in the midst of adding an analytical chemist right now.

Source: Gerry Cox, COO of Velesco Pharmaceutical Services
Writer: Jon Zemke

Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.
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