Dayton, Franken Hail Biotech Firm For Minn. Plans
ST. PAUL, Minn. (AP) — Gov. Mark Dayton and U.S. Sen. Al Franken are praising a biotechnology company that plans to expand in Coon Rapids, Minn., with state and city help.
The two Democrats appeared at a Capitol news conference Thursday with Biovest International President Samuel Duffey.
Biovest plans to start manufacturing a cancer vaccine for non-Hodgkin’s lymphoma, adding 14 skilled jobs in Minnesota within two years. Duffey says the expansion eventually could lead to hundreds of new jobs here.
The Tampa-based company is getting a $250,000 loan from the state Department of Employment and Economic Development and a $100,000 loan from the Coon Rapids Housing and Redevelopment Authority, plus privately financed improvements to the building it leases.
Dayton says Republican predecessor Tim Pawlenty’s administration credit shepherded the state’s involvement in the project.
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