AAIPharma Services Corp. / Cambridge Major Laboratories, Inc., will invest $10.7 million to move its headquarters in St. Louis, Missouri. The company will relocate to the city’s Cortex Innovation Community. The company plans to add 30 employees in the next five years to bring its full-time head count to about 110 associates.
AAI/CML provides innovative analytical testing solutions for manufacturers’ new drug entities, generic drugs, animal health products, medicated consumer health products, chemicals and biopharmaceuticals.
“This expansion comes at a critical time in our company’s growth,” said Stephan Kutzer, CEO/President/Chairman of AAI/CML. “We expect to invest $10.7 million in capital over the next 12 to 18 months to build and outfit our new analytical testing facility, and we are very excited to be working with Cortex and the Governor’s office to provide jobs for the greater St. Louis area.”
To assist AAI/CML with its growth, the Missouri Department of Economic Development offered a strategic economic incentive package that the company can receive if it meets strict job creation criteria. Missouri Partnership and Cortex Innovation Community were key partners on the project.
“This is yet another truly global bioscience company choosing Missouri for its strategic growth,” said Mike Downing, director of the Missouri Department of Economic Development. “As the Cortex Innovation Community grows, it continues to gain that much more gravity to attract further investment and job creation.”
AAI/CML joins a long list of more than 160 resident companies that are part of the Cortex Innovation Community. The community is a vibrant innovation hub and technology district that has led to $350 million in investment and generated 2,500 technology-related jobs since its inception in 2002, MDED officials said.
The firm’s current facility employs about 80 full-time staff and specializes in chemical and microbiological analytical testing including raw material testing, drug product release, stability, and environmental monitoring for both sterile and non-sterile drugs.
The move to its new operations center is a response to increased customer demand and the growing trend of analytical testing outsourcing within the pharmaceutical and biotechnology industries, officials said. It will house state-of-the-art of equipment in addition to its existing service offerings and will provide new testing capabilities to meet industry and changing regulatory requirements, such as glass and plastic containers testing for pharmaceutical use, elemental impurities, disinfectant qualification and efficacy studies.
“We are excited to partner with AAIPharma / Cambridge Major Labs in the expansion of its pharmaceutical services business in the Midwest,” said Dennis Lower, President/CEO of the Cortex Innovation Community. “AAIPharma / Cambridge Major Labs’ expertise in analytical drug development services will be a great addition to our community of bioscience startups, as well as support for university faculty and researchers.”
“AAIPharma / Cambridge Major Labs’ continued investment is a testament to the strong growth throughout the St. Louis region,” said Joe Reagan, President/CEO of the St. Louis Regional Chamber. “It is also a great example of how our highly-skilled workforce and competitive business environment enables our region’s bioscience sector to compete against leading markets across the country."