Pepperell Firm Expands With MassDev Money
Pepperell's Masy Systems Inc. has received $1.4 million in loans from MassDevelopment to expand its biorepository facility, the state agency said.
Masy used the funding to expand its facility six-fold. Most of it will be used for storage at minus 75-degree Celsius so the company's customers in the biotechnology, pharmaceutical and life sciences industries can maintain biologic compounds used in research and development.
In 2009, MassDevelopment provided Masy with $700,000 in financing for the first phase of the project. The latest expansion will make the Masy facility one of the largest commercial biorepositories in the Northeast, MassDevelopment said.
"This expansion was driven by customer demand," said Laurie Masiello, Masy Systems' president. "Our growth has come from not only new customers, but our existing customers asking us to do more. It is gratifying that they place their trust in us to safeguard their products in the conditions they require."
At least seven jobs are expected to be added to the company due to the expansion.
WBJ Web Partners
Most Recent
Most Recent
0 Comments