Nanotherapeutics is one step closer to completing construction of their 180,000 square foot manufacturing facility in Alachua. Earlier in March, the biotech company announced that it had secured $28.5 million in financing from White Oak Global Advisors. The $135 million facility will occupy 30 acres near Progress Park.
Nanotherapeutics broke ground on the project in October 2013. The new facility is expected to create jobs for 150 people with an average salary of $90,000. The company has already received $500 million in contracts and grants biodefense, infectious disease and influenza products. Included in this total is a Department of Defense contract to develop and manufacture drugs to treat bioterrorism and radiological threats. This contract is estimated to be worth as much as $359 million.
Last year, the company received additional financing in the forms of a $30 million loan from Hercules Technology Growth Capital and an $8 million loan from Trinity Capital Investment.