Monday, October 07, 2002
South Carolina has successfully recruited a small biotech company from North Carolina. The investment: $500,000 per job.
According to reports in both states, economic development officals in South Carolina included land for a processing plant, a $4 million equity investment and $3 million in grants. The investment is in an early stage company. Pilot Therapeutics has 14 employees and generated a loss of $3.7 million in the first half of this year.
At the same time, Pilot, which has a small product pipeline based on technology developed at Wake Forest University, contributes to a biotech cluster that is starting to form in the Charleston region. CropTech, a Virginia company that makes medical treatments from tobacco plants, broke ground on a $40 million headquarters in the region two weeks ago. Learn more. Go and Go.
posted by Ed Morrison |
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Background on Ed Morrison
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SC raids NC for a biotech firm
