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02/17/2018 05:32 AMHARTFORD, CT Feb. 16, 2018 – Senator Ted Kennedy, Jr. (D-Branford) today announced that the State Bond Commission has approved funding for ViiV Healthcare in Branford. ViiV Healthcare is a rapidly-growing global specialist HIV company in Branford's bioscience corridor that is on the cutting edge of HIV research and medicine development.
The state grant will complement ViiV Healthcare's own investment in itself. The company expects that this expansion will allow it to retain 25 jobs and expand to 45 jobs within five years.
"Connecticut's future success depends on our ability to identify and invest in our strengths, and one of our greatest economic strengths is the cutting-edge companies like ViiV Healthcare that populate Branford's bioscience corridor," said Senator Kennedy. "I was invited to tour the new facility, and can attest to the incredible work being done there. This company provides good-paying jobs to Connecticut residents and attracts some of the brightest minds in the country to our community. I will continue to work with companies like ViiV Healthcare to identify opportunities for Connecticut to become a better state for bioscience businesses to grow and thrive."
"ViiV Healthcare advance science and research to find new medicines that address the unmet needs for people living with HIV," said Mark Cockett, Vice President and Head of Discovery at ViiV Healthcare. "Innovation requires scientists who push the boundaries and infrastructure to support them, and Branford's bioscience corridor provides us with the opportunity to do just that. We are proud to bring our first wholly-owned research laboratory to Connecticut."
A recent economic competitiveness diagnostic of Connecticut found that the state has great assets and economic drivers in research and development, bioscience and health data. These industries are growing rapidly in communities like Branford. By better targeting state economic development efforts, Senator Kennedy aims to ensure that these industries reach a critical mass, making Connecticut a hub for bioscience and medical research and development.
In 2017, Senator Kennedy led passage of Senate Bill 962, now Special Act 17-2, which improves Connecticut's ability to make targeted investments aimed at encouraging growth and job creation in bioscience and precision medicine. Senate Bill 962 calls for metrics to be developed by a private vendor that will help the state measure the impact of its investments. These metrics will be used to make smart, effective investing decisions, allowing more companies like ViiV Healthcare to succeed and create jobs in Connecticut.
Reporter's Note: On Friday, Feb. 16, the state bonding commission approved financing $1 million for ViiV Healthcare Company among a number of financing approvals for economic development initiatives statewide. ViiV Healthcare recently relocated from Wallingford to Branford.
Grant-In-Aid to ViiV Healthcare Company to retain 25 jobs and expand to 45 jobs within five years