BEDC: AB BioTechnologies Breaks Ground on $10.5M Project
BLOOMINGTON, Ind. (May 31, 2017) – Construction has begun on a new 23,000-square foot pharmaceutical manufacturing facility for AB BioTechnologies in Monroe County. The company is a contract development and manufacturing organization (CDMO), and plans to add clinical and small-scale commercial manufacturing for injectable drugs later this year.
AB BioTechnologies announced it was expanding in January and planning to hire over 30 positions over the next five years. The company was founded in 2008 by J. Jeff Schwegman, Ph.D.
“Entrepreneurs and small businesses like AB BioTechnologies are driving economic growth and innovation in Indiana,” said Indiana Economic Development President Elaine Bedel. “Small businesses employ more than 1.2 million Hoosiers across the state, providing quality, good-paying jobs. As one of the Indiana companies recognized for its growth during Small Business Week in May, we look forward to watching AB BioTechnologies continue to expand and create new opportunities for Hoosiers.”
“We are very grateful that AB Bio Technologies has chosen our community as the site for its innovation,” said Lynn Coyne, President of the Bloomington Economic Development Corporation. “We are proud to support their growth and bright future with the many resources in our area.”
AB Biotechnologies received the Indiana Small Business Development Center 2017 Economic Development and Growth Through Entrepreneurship (EDGE) Award in small business earlier this month.
About AB BioTechnologies
J. Jeff Schwegman, Ph.D. founded AB BioTechnologies in February of 2008. Dr. Schwegman had more than 16 years of experience working in the contract development/manufacturing pharmaceutical industry before launching AB BioTechnologies, initially a teaching and consulting firm. AB BioTechnologies started small and budget efficient in the back bedroom of Dr. Schwegman’s home. In early 2010 the first small laboratory was opened, and the company quickly grew over the next few years tripling profits each year, adding new lab equipment, and going through two lab expansions to keep up with the demand for their services. For more information about AB BioTechnologies Inc., please visit www.ab-biotech.com.
About the Bloomington Economic Development Corporation (BEDC)
The BEDC is a not-for-profit organization dedicated to the retention, development and attraction of quality jobs in Monroe County. The BEDC is led by a partnership of private industry leaders, the City of Bloomington, Monroe County, Indiana University and Ivy Tech Community College–Bloomington. For more information, visit www.bloomingtonedc.com.