Pharmalucence Receives $20 Million in Construction Financing

WALTHAM, MA — Bedford, MA-based Pharmalucence Inc., a leading provider of radiopharmaceuticals, has secured $20 million in construction financing from TD Bank supported by a Recovery Zone Facility Bond issued by the Massachusetts Development Finance Agency.

The company plans to construct a state-of-the-art, 70,000 square foot pharmaceutical production facility and new corporate headquarters at 29 Dunham Road, Billerica, MA. The company expects to create 25 to 30 new jobs as a result of this expansion. Pharmalucence makes eight drugs used in the diagnosis of illnesses.

Morse, Barnes-Brown & Pendleton serves as counsel to Pharmalucence and advised it in connection with the structuring, negotiation and documentation of this transaction. Carl Barnes and Daniele Levy were attorneys for this transaction.

Morse, Barnes-Brown Pendleton, PC, focuses exclusively on the core legal services that businesses need to succeed. The law firm assists businesses of all sizes — from start-ups to Fortune 1000 companies — in the areas of business law, technology and intellectual property, employment and immigration and taxation.

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