Expansion of Pharmaceutical Firm in Philadelphia to Create Over 150 Jobs
The move should be complete by fourth quarter 2012. Currently the firm takes up 19,000-sq.-ft. of space at the corporate facility.
Founded in 2006, Iroko specializes in nanoformulation technology used to to create improved versions of existing nonsteroidal, anti-inflammatory drugs.
Iroko President/CEO John Vavricka said his company needs the additional room to prepare for the anticipated launch of a new drug product, slated for 2013. "We've run out of space," he said. "Launching a product in the United States is going to require a much larger footprint."
Iroko was initially drawn to the location due to the numerous advantages Philadelphia offers life sciences businesses, such as its "highly educated workforce and research infrastructure," said a company official.
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