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Somru BioScience receives loan for new facility in Charlottetown

Mohammed Moin is the founder of Somru BioScience Inc. in Charlottetown, P.E.I.
Mohammed Moin is the founder of Somru BioScience Inc. in Charlottetown, P.E.I.

CHARLOTTETOWN, P.E.I. - A P.E.I. bioscience company has received nearly $1 million in funding from the federal and provincial government to build a new facility in Charlottetown.

Somru Bioscience Inc. will receive a $500,000 loan from ACOA while the provincial government is providing a loan of $350,000 for construction and $100,000 to help purchase the land.

Somru, which was originally located at the National Research Centre of Canada (NRC) at UPEI, will build its new, 5,000 square foot facility in the BioCommons Research Park.

Mohammed Moin, the co-founder and vice-president for business development at Somru, is thrilled about the development, saying this could just be the beginning for Somru BioScience.

“We plan to aggressively grow the company and the technologies so we can continue to help our clients bring affordable biotherapeutics to the market sooner.”

The expansion expects to create 12 to 15 new jobs within the next 12 to 18 months.

Somru is a biotechnology company started on P.E.I. in 2012. The company develops antibody technology for research, diagnostic and therapeutic applications.

Somru Bioscience Inc. will receive a $500,000 loan from ACOA while the provincial government is providing a loan of $350,000 for construction and $100,000 to help purchase the land.

Somru, which was originally located at the National Research Centre of Canada (NRC) at UPEI, will build its new, 5,000 square foot facility in the BioCommons Research Park.

Mohammed Moin, the co-founder and vice-president for business development at Somru, is thrilled about the development, saying this could just be the beginning for Somru BioScience.

“We plan to aggressively grow the company and the technologies so we can continue to help our clients bring affordable biotherapeutics to the market sooner.”

The expansion expects to create 12 to 15 new jobs within the next 12 to 18 months.

Somru is a biotechnology company started on P.E.I. in 2012. The company develops antibody technology for research, diagnostic and therapeutic applications.

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