CHICAGO, Nov. 16, 2016 /PRNewswire/ -- Therapeutic Proteins International (TPI) announced today that it will change its name to Adello Biologics, LLC, effective immediately. The name change accompanies the move of its corporate headquarters to Piscataway, New Jersey. Along with all corporate functions, the 50,000 sq. ft. facility will house the company's new R&D lab. The company plans to complete the move by the end of the year.
"The new name aligns with our company's vision; To become the trusted choice of high-quality, affordable biosimilars for patients worldwide," said Dr. Peter Moesta, Chief Executive Officer of Adello. "We are fully focused on developing a robust portfolio of biosimilars, and our move to New Jersey is an effort to further enhance our R&D bench strength, drawing on the scientific talent pool in the area."
The Chicago site will remain the company's key manufacturing facility in the U.S. with around 100 employees supporting operations. Adello is currently actively recruiting positions for the R&D function in Piscataway. With capacity for 70 scientists, the group will continue to be led by Chief Scientific Officer, Dr. Michael Washabaugh.
About Adello Biologics, LLC
Adello is a privately held, U.S.-based biotechnology company that leads with science to accelerate development and drive manufacturing efficiency. The company's aim is to provide high-quality, affordable biosimilars to patients worldwide. Headquartered in Piscataway, NJ and driven by a team of highly skilled industry veterans, Adello is advancing a strategic pipeline of proteins and complex monoclonal antibodies with lead candidates in oncology and immunology. For more information, visit Adellobio.com.
Learn more about biosimilars:http://adellobio.com/about-biosimilars/
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Adello Biologics, LLC
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SOURCE Adello Biologics, LLC