3M (NYSE: MMM) today announced today that it will invest $146 million dollars to expand its capabilities to further support the fast-growing biotech manufacturing sector.
The investment will include facility and equipment improvements and 60 new full-time positions in 3M manufacturing facilities in Europe.
3M said the new investment will accelerate its development and delivery of vital filtration equipment designed for bioprocessing, biological and small molecule pharmaceutical manufacturing applications. The equipment will enable more innovation when it comes to therapies to treat conditions such as rheumatoid arthritis, multiple sclerosis, and certain cancers. Filtration and purification is essential in manufacturing biopharmaceutical drugs.
The process uses a unique filter material that captures impurities while allowing the necessary drug substances to pass through.
“Our investment further demonstrates 3M’s continued market leadership and ongoing commitment to customer-centric innovation in health care,” Robert Befidi, president of the 3M Separation and Purification Sciences Division said in a news release. “Our technologies improve the lives of people all over the world, and we are helping biotech customers do more, faster, to advance their specialized medicines.”
3M has a comprehensive portfolio of depth filters for cell culture clarification in the biopharmaceutical industry. Zeta Plus depth filtration technology, in cartridge systems and sheets, provides clarification of cell-derived protein therapeutic products around the world.