Israeli pharmaceutical company to set up shop in Westfield
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Israel-based Isotopia Molecular Imaging is set to open its first U.S. facility in Westfield, the Indiana Economic Development Corp. announced Monday.
The global pharmaceutical and nuclear medicine manufacturing company plans to invest $20 million to set up its Isotopia USA operation and create up to 50 jobs by the end of 2027.
The company’s facility, to be located at 17075 Oak Ridge Road, will include clean rooms, analytical and microbiology laboratories, packaging and logistics systems, and precursor isotope recycling systems.
The plant will be used to produce Lu-177 n.c.a., a radioactive medical isotope used in pharmaceuticals for targeted cancer treatment.
“The state of Indiana and the city of Westfield have rolled out the welcome mat,” Todd Hockemeyer, CEO of Isotopia USA, said in a news release. “This support from our new community will help accelerate our efforts to bring this critical medical isotope to the market as soon as 2024.”
Isotopia USA plans to begin hiring immediately for positions such as technical, engineering, quality and scientific personnel over the next 24 months.
The Indiana Economic Development Corp. has committed up to $1.1 million in conditional tax credits and up to $100,000 in workforce training grants. Isotopia USA will not be eligible to claim the incentives until Hoosier workers are hired for the new jobs.
The city of Westfield has committed up to $1.42 million in additional incentives.