Lilly contract fuels BioConvergence expansion

BioConvergence expects to create as many as 170 new jobs by 2011 as it grows its drug development and logistics services, the Bloomington company said today.

The company plans a ribbon-cutting ceremony this afternoon on a 21,000-square-foot expansion of its facility.

BioConvergence is growing because of a 10-year, multimillion-dollar contract it signed in late 2006 with Indianapolis-based Eli Lilly and Co. That deal has already led to 15 new jobs, BioConvergence said.

The company helps pharmaceutical and biotech firms test and develop products, performs manufacturing and packaging, and provides supply chain and materials management.

Founded in 2004 by CEO Alisa Wright, the company has 36 employees.

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