COLUMBIA- Mayor Bob McDavid and CEO Renzo DiCarlo announced the expansion of the Toronto based Bio Pharma Services Inc. Center in Columbia on Monday Evening.
The event was held at Regional Economic Development Inc.
Bio Pharma is a clinical research company for drug products. It tests generic and brand name drugs in a small population to verify if they have equivalent benefits. They also perform dose escalation studies for new drugs to make sure the drugs are reliable.
The Columbia facility will be both phase 1 and 2a meaning it will test drug escalation and bio equivalency of drugs.
The center will open at 300 Portland Street.
The facility will be 9,000 feet and have 48 beds, and be located next to university hospital facilities.
DiCarlo said that within about three years, the facility will likely provide more than 40 to 50 jobs in Columbia.
DiCarlo said Columbia's location is an ideal spot for the facility.
"Columbia is the center for medical academia, medical research, medical work. We hope to partner further with the Boone County Hospital and some of the health care institutions in Columbia," said DiCarlo.
DiCarlo said Bio Pharma plans to run its first study in February, but the company will start setting up plans for the study next month.