BNTX - Evonik gets US government funding for $220M lipid production site for mRNA therapies

Germany chemical maker Evonik Industries (OTCPK:EVKIY) (OTCPK:EVKIF), with funding from the U.S. government, will spend a total $220M to build a new lipid production facility for mRNA-based therapies in the U.S. The company said the new facility at its Tippecanoe site in Lafayette, Indiana, will position it for future growth in novel mRNA-based therapies beyond COVID-19 vaccines. Out of the total $220M investment, the U.S. government will fund up to $150M through its Biomedical Advanced Research and Development Authority (BARDA), which operates under the U.S. Department of Health and Human Services. Indiana Economic Development Corporation, Greater Lafayette Commerce, and Duke Energy will also support the project. Construction will begin in early 2023, and the plant is scheduled to go onstream in 2025. The investment in the site is expected to create more than 80 highly skilled jobs in the Lafayette region, according to the company's June 2 press release. Evonik noted

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Evonik gets US government funding for $220M lipid production site for mRNA therapies