Somru BioScience expanding with new Charlottetown facility
Company receiving loans of $850K from ACOA, province to help with construction costs
With the help of federal and provincial funding, a P.E.I. bioscience company is building a new facility in Charlottetown that expects to create 12 to 15 new jobs.
Somru BioScience Inc. is planning to expand with a 5,000-square-foot facility in the BioCommons Research Park. Currently, the company is located nearby in the West Royalty Business Park.
ACOA, provincial funding
ACOA, through its Business Development Program, is providing a loan of $500,000 to help with construction while the provincial government is providing a loan of $350,000, for construction and $100,000 in funding to help purchase the land, according to a press release.
The company was originally located at UPEI. The company says the new facility will bring together its animal holdings and antibody production. The new jobs are expected to be created in the next 12 to 18 months.
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