Selvita has entered into a contract with PORR for general contracting for the construction of a Research and Development Center for Laboratory Services in the Drug Discovery and Development Area in Krakow, the company said. The contractor’s remuneration for the performance of the contract will amount to PLN 86.9 million net. Completion of the investment is planned at the turn of 2022/23.
Selvita has secured funding for the investment in the form of a grant in the amount of PLN 41.2 million and a bank loan in the amount of PLN 65 million. Completion of the construction is planned at the turn of 2022/23. The research center will be built on a plot of land purchased by Selvita, located at Podole Street. in Krakow, less than 700 m from the current headquarters of the company. The heart of the new Selvita facility will be a complex of laboratories in the field of, among others, medical chemistry, biochemistry, molecular and cell biology, ADME / DMPK, in vivo pharmacology and analytics. it will be able to provide jobs for over 250 people.
As highlighted by Selvita’s board member Dariusz Kurdas, the implementation of this investment will allow the company not only to increase the scale of its operations and extend its offer, but also to increase its competitiveness by introducing new technologies and services in the area of drug discovery and development into its portfolio.
“Our goal is continuous development and constant strengthening of the position on the global market of CRO companies. To achieve this goal, we must expand the research area. For this reason, we have decided to invest in our own research and development facility. Thanks to this, in addition to the rented space, we will also be able to carry out research Such a mixed business model is a standard among major CRO companies, as it increases the stability of the service provider, and this is important for our largest customers,” said Kurdas.
Currently, Selvita operates in several locations. In Poland, the company’s 6,000 sqm of research space is located in Kraków and Poznań, and the acquisition of the Croatian Fidelta has contributed to increasing the group’s research space by an additional 6,000 sqm. The implementation of the investment will provide Selvita with an additional 10,000 sqm of space, including approximately 4,000 sqm of laboratory and office space, the company announced.
Selvita shares (previously Selvita CRO S.A.) debuted in mid-October 2019 on the main market of the Warsaw Stock Exchange. Earlier, the registry court approved the division of Selvita. The court’s decision meant for Selvita S.A. formal finalization of the procedure related to the division of the company into two independent entities – Selvita S.A. (formerly Selvita CRO S.A.) and Ryvu Therapeutics S.A. (formerly Selvita S.A.).
Source: ISBnews
