Nexvet to create 30 jobs over next 12 months

By Business & Finance
17 September 2015
Pictured (L-R): Barry Heavey, head of Life Sciences, IDA Ireland; Marcella Corcoran Kennedy TD; Minister Damien English TD; Mark Heffernan, CEO Nextvet and ‘Duffer’ the dog

Veterinary biologics developer Nexvet Biopharma has secured a dedicated biologics manufacturing facility in Tullamore, which will lead to the creation of up to 30 new roles over the next year.

Nexvet is a clinical-stage biopharmaceutical company focused on transforming the therapeutic market for companion animals, such as dogs and cats, by developing and commercialising novel, species-specific biologics.

BioNua Limited, a wholly owned subsidiary of Nexvet, will run business operations at the facility. The company will pay €1.75m to secure the manufacturing assets within the facility, entering a 10-year lease on the facility, with an option to purchase the building.

Dr Mark Heffernan, CEO, Nexvet sad: “The opportunity to assume full control of our manufacturing is compelling, as existing manufacturers may face regulatory uncertainties regarding the manufacture of human and veterinary products in the same facility. Securing this facility at a fraction of its replacement cost reduces this uncertainty and will significantly lower our development expenses and ultimately our cost of goods.”

Damien English TD, Minister for Minister for Skills, Research and Innovation, commented: “Biopharma is a sector where Ireland has major strengths and massive potential, and today’s announcement that Nexvet is establishing a new facility in Tullamore and creating up to 30 new jobs is a great boost for Tullamore and the entire midlands region. I wish Mark and his team every success with this important project.”

BioNua will hire up to 30 staff and invest in state-of-the-art disposable biopharmaceutical technologies, which have a number of advantages over traditional bioprocessing infrastructure including improved adaptability to product demand, reduced risk of contamination, and a reduction in required capital expenditure.