Projo 7 to 7 News Blog

CUMBERLAND -- Neurotech Pharmaceuticals, Inc., a privately held biotechnology company focused on the development of sight-saving therapeutics for chronic retinal diseases, will hold an 11 a.m. ribbon-cutting ceremony for its new 27,000 square-foot manufacturing facility and headquarters in Cumberland.

The ceremony will be at its new facility, 900 Highland Corporate Drive.

The company has been operating out of a pilot building in Lincoln.

Neurotech Pharmaceuticals received $4 million in financing from the state to defray the cost of equipment.

"High tech manufacturing in the biotechnology industry is a critical component of our economic development and job growth strategy," said Governor Carcieri. "I commend Neurotech for their commitment to expand operations and create new job opportunities here in Rhode Island, and am pleased to join the company in this exciting celebration today."

"Through the support of our RIEDC financing tools, we were able to assist Neurotech, a very promising Rhode Island biotechnology company, grow and expand their operations in our state. Strengthening Rhode Island's life sciences sector and creating more high-wage jobs for Rhode Islanders is a very high priority of our Economic Growth Plan," said Saul Kaplan, executive director, Rhode Island Economic Development Corporation. "Today's announcement is an excellent example of how the public and private sectors can work together to help great companies grow and expand here. We are proud of Neurotech's success and recognize the importance of assisting promising biotechnology companies as their therapies move from the lab to commercialization."

Video: Look inside the new Neurotech facility as CEO Ted Danse talks about its products.

 Tags  Cumberland economic development Lincoln RI

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