Velesco Pharma has boosted its drug formulation, analytical development and cGMP clinical trial manufacturing services with the opening of a new business development office in the greater Boston area. Velesco is a CMC CRO formed by former pharmaceutical R&D colleagues that supports early-stage drug development.
“We will continue our focus on drug formulation, analytical method development and the supply of cGMP clinical supplies to early phase clinical trials while maintaining an evolving understanding of our clients’ needs,” said Gerry Cox, Velesco co-founder and chief operating officer, who will be leading the new office.
Velesco will be the first life sciences tenant of the Quincy Center for Innovation (QCI), a 12,500-square-foot facility providing inexpensive and flexible office space and support services to assist startup companies and early phase companies. It was formed as a strategic partnership between the Quincy Chamber of Commerce, Quincy 2000 Collaborative, Eastern Nazarene College, South Shore Innovation and the City of Quincy. The QCI is expected to open fully Sept. 1.
“We are excited to see Velesco expand their footprint here in Massachusetts by building out a presence where their clients and potential clients are doing business,” said Robert K. Coughlin, president & CEO of MassBio, a life sciences trade association. “Contract research and manufacturing is a vital piece of the new drug development paradigm.”