AstraZeneca made a $100-million investment to expand its R&D facility in Boston, which is focused on infectious diseases and cancer. "This investment will significantly boost our research capabilities in two critical areas of medical need," says David Brennan, CEO. "It will provide additional resources for our scientists who are tackling more complex diseases than ever before, as they work towards our ultimate goal of giving people hope for a healthier future."
AstraZeneca believes that Boston gives the company access to the leading scientific talent, potential partners and collaborators, and emerging science in a worldwide biotechnology hub.
The company predicts that construction of the 132,000-sq-ft facility will begin at the Waltham, MA, site during the first quarter of 2007 and will be complete by mid 2009. The total size of the research facility will then be 382,000 sq. ft. The expanded facility will thus be able to accommodate up to 100 additional researchers.