New Manufacturing Facility Will Create 28 New Jobs; Retain 14 Existing Jobs
Company Will Receive $500,000 in Excelsior Jobs Program Tax Credits
Governor Andrew M. Cuomo today announced that YFS Pharma, Inc., one of the You First Services Group of Companies, will invest $2.6 million to expand operations in Western New York. The company will construct a new pharmaceutical manufacturing facility, purchase new machinery and equipment and create 28 new high-paying, biotech jobs in the region. The company currently employs 14 full-time employees, and the expansion will create 28 new jobs. Empire State Development will assist the company with $500,000 in Excelsior Job Program tax credits.
"Western New York is rapidly becoming a hub of high-tech manufacturing with businesses choosing to come here and grow and expand in this region," Governor Cuomo said. "With the addition of 28 new highly skilled jobs at YFS Pharma, we take another step forward to help grow the Buffalo area’s economy – allowing this region to continue to thrive for years to come."
Established in 2013, You First Services, Inc., a STARTUP-NY company following the concept of innovation to commercialization, works to develop and introduce technologies that have been created in the laboratory setting, but have been unable to obtain the resources necessary to complete the most important step in the process, which is to get finished products into the marketplace. The company strives to explore innovative and unique health solutions in order to enhance and improve lives through research and development. This would significantly help to ease the overall economic burden of health care. The regulatory department team in the company works diligently to meet FDA guidelines and related approvals. The company has shown steady growth in development of multiple technologies in the field of oral health care, sterilization and infection control.
Dr. Satish Sharma, Executive Chairman, You First Services Group of Companies said, "It is the vision of YFS to be a world-class research and development company. We remain committed to developing science and creating global partnerships. These partnerships with like-minded organizations will result in the introduction of unique health care applications that will contribute to decreased health care costs. The company aims to be a global leader in providing innovative health care technologies, and contribute significantly towards social advancement."
Empire State Development President, CEO and Commissioner, Howard Zemsky said, "Western New York is a great place for pharmaceutical companies to do business thanks to distinguished biomedical research institutions, such as the University at Buffalo, its highly skilled workforce, and its growing cluster of biotech companies."
The project at YFS Pharma, Inc. involves the construction of a 9,467 square foot facility at 485 Cayuga Road in Cheektowaga that will allow YFS Pharma to manufacture products for commercial sale and clinical trials. The CGMP and FDA certified facility will be located at 485 Cayuga Road, Buffalo, NY, 14225. This is in addition to 6,834 square feet of office space currently being leased in the same facility.
Chief Executive Officer of You First Services Group of Companies John M. Barret said, "The company has successfully launched its flagship product, Lubricity® for moisturizing dry mouth, and will be introducing a second product, MetaQil™, for reducing metallic taste for oncology patients, as well as for patients taking a variety of medications, by the end of the first quarter of 2017. These products, as well as a number of additional products, having approved clinical trials at the Veterans Administration Hospital in Buffalo, Jacksonville University and the State University of New York, will be manufactured by YFS Pharma."
The company currently employs 18 full-time employees. Empire State Development will assist the company with $500,000 in Excelsior Jobs Program tax credits.
The company has a proven track record of obtaining IRB clinical trial approvals and has successfully completed clinical trials necessary to introduce new technologies. The company has received numerous grants and awards that include National Grid Grant, NYS CAT Grants and hot spot grants. Based on successful product formulation and testing, the ability to obtain timely IRB approvals and hiring efficient staff, the company has developed a fast track approach for new product introductions into the marketplace. You First Services, Inc. and its subsidiaries that include Lubricity Innovations, Inc., Oral Care Laboratories, Inc., EQM Technologies, Inc., and Biofloze Innovations, Inc., along with YFS Pharma, Inc., will continue to develop and introduce exciting technologies and create high end jobs in New York State and nationally. The company has obtained regulatory approvals in Canada, India, the European Union and affiliated countries, to introduce these technologies worldwide and is in the process of finalizing high distribution opportunities in these areas.
Senator Tim Kennedy said, "With a new multi-million dollar pharmaceutical facility on its way to Cheektowaga, along with more than two dozen high-paying jobs, we're seeing companies continue to choose Western New York for their long-term needs. This is in large part thanks to the Governor and New York State's commitment to growing our regional economy and incentivizing investments made locally."
Assemblymember Monica Wallace said, "It’s great to see this investment in Cheektowaga that will not only lead to job creation, but further advance the research and production capability of YFS Pharma, Inc. Investments in STEM, like at the Buffalo Niagara Medical Campus and other biomedical research institutions and companies, have already been successful in moving Western New York forward. I look forward to seeing YFS Pharma, Inc. meet its full potential and establish itself as a great community partner."
Erie County Executive Mark Poloncarz said, "Erie County’s biotech sector continues to grow and diversify with this investment by YFS Pharma, which will more than double their workforce while expanding their footprint in Cheektowaga. Our region’s reputation as one that makes good business sense to emerging technologies and innovative science startups continues to grow as well."