Isotopia Molecular Imaging, an Israel-based global pharmaceutical and nuclear medicine manufacturing company, announced plans today to locate its first U.S. operations in Indiana. The company’s newly formed U.S. subsidiary, Isotopia USA, will invest approximately $20 million to establish its flagship operation in Westfield, creating up to 50 new, high-wage jobs by the end of 2027.
“Indiana’s life sciences sector continues to grow, generating a $79 billion economic impact and providing life-changing products, pharmaceuticals and medical devices to customers across the world,” said Indiana Secretary of Commerce David Rosenberg. “Isotopia’s decision to locate its first U.S. operation in Indiana is a testament to our competitive business climate and the strength of the Hoosier life sciences ecosystem and its skilled workforce.”
Isotopia USA will build a state-of-the-art manufacturing facility at 17075 Oak Ridge Road in Westfield. The new facility will house production clean rooms, analytical and microbiology laboratories, packaging and logistics systems, and precursor isotope recycling systems. The company plans to begin production of GMP-grade Lu-177 n.c.a. – a radioactive medical isotope used in pharmaceuticals for targeted cancer treatment – for delivery to its key customers by the end of 2024.
“The state of Indiana and the city of Westfield have rolled out the welcome mat,” said Todd Hockemeyer, CEO of Isotopia USA. “This support from our new community will help accelerate our efforts to bring this critical medical isotope to the market as soon as 2024. Indiana is one of the most business-friendly states in the U.S., while Westfield is an ideal community with great schools and excellent housing. We look forward to being a corporate partner with the city and state to create highly desirable, well-paying jobs in this exciting field doing good work treating cancer.”
Isotopia USA will begin hiring immediately, filling positions for technical, engineering, quality and scientific personnel over the next 24 months. The company plans to invest heavily in employee training to support the growth and success of its first U.S. location.
“I am thrilled to welcome Isotopia USA to Westfield,” said Westfield Mayor-elect Scott Willis. “Establishing their flagship production operation in our city marks a significant milestone for Isotopia and our community. This investment reflects the confidence Isotopia has in our skilled workforce and supportive business environment. We look forward to a successful collaboration as we continue to grow and innovate together.”
Isotopia Molecular Imaging is a global pharmaceutical company that develops, produces and distributes cutting-edge diagnostic and therapeutic radioactive isotopes and advanced PET and SPECT radiotracers. The company, which has production operations in Israel, Europe and North America, supports a multidisciplinary team of experts committed to expanding healthcare providers’ power to diagnose and treat cancer with greater precision and safety. Isotopia Molecular Imaging offers an extensive portfolio of radiopharmaceuticals and cold kits, along with contract manufacturing services for pharmaceutical and research purposes and continuous professional guidance and support.
Based on the company’s investment and job creation plans, the Indiana Economic Development Corporation (IEDC) committed an investment in Isotopia USA of up to $1.1 million in the form of incentive-based tax credits and up to $100,000 in workforce training grants. These tax credits are performance-based, meaning the company is eligible to claim incentives once Hoosiers are hired. The city of Westfield has committed additional incentives valued at up to $1.42 million in support of the project.