'WHITESBORO — Prevalere Life Sciences, Inc., recently converted 1,800 square feet of unused space into a biotechnology laboratory at its 8282 Halsey Road facility.
The company, which conducts pharmaceutical and biotechnology research, needed the additional space to accommodate the double-digit percentage growth it has experienced in recent years, CEO Dr. Mario L. Rocci, Jr. says.
Without disclosing revenue totals, Rocci says the company grew just over 30 percent last year. “This year, we’re poised for about 40 percent growth,” he adds. Industrywide predictions are calling for double-digit growth for the next five years as both the pharmaceutical and biotechnology fields continue to expand and work to bring new drugs to market.
As a contract-research organization, Prevalere (www.prevalere.com) plays a key role in conducting the necessary testing in order to obtain Food and Drug Administration approval for any new drugs. Over the years, the company has been instrumental in the approval of a number of drugs for HIV/AIDS, heart disease, Alzheimer’s, and rheumatoid arthritis, Rocci says.
The company got its start in the early 1980s as part of Oneida Research Services, which offers lab-testing services to the microelectronics, telecommunications, aerospace, medical, and defense industries. In 2002, Prevalere spun off as a separate company. Holding-company ORS Labs owns both companies.
Prevalere focused primarily on performing research for pharmaceutical companies until a few years ago, Rocci says.
“We had realized in 2000 that we really needed to get into the biotechnology field,” he says. While the pharmaceutical industry continues to experience steady growth, biotechnology has enjoyed particularly robust growth in recent years, Rocci adds.
Today, Prevalere’s business is about a 50-50 mix of pharmaceuticals and biotechnology, but it’s the growth in biotechnology that fueled the growth at Prevalere’s 48,000-square-foot facility.
Prevalere’s building was already outfitted for additional lab space, so it really was just a matter of purchasing equipment and setting up the lab, Rocci says. He does not have a figure for the total project cost, but says it was a sizeable investment with some pieces of equipment costing upwards of $100,000.
While the company has made use of grant programs through Mohawk Valley EDGE, as well as bank loans in the past, it was able to finance this latest project internally.
The new lab, where Prevalere tests the safety and effectiveness of biotechnology compounds, brings the total number of labs to seven.
And there is still 3,000 square feet of free space left in the building to accommodate future growth needs, Rocci says.
Along with adding this newest lab, the company completed the preliminary framework for another lab. The prep work gives Prevalere the ability to have another new lab up and running within 60 days if necessary.
“We’re trying to keep one step ahead of business growth through expanding,” Rocci says.
Along with adding space, Prevalere has steadily added employees. The company has hired 27 employees since the beginning of 2007, Rocci says, including seven this year. It currently employs 95.
“We’ll add two to three more in the next month or so,” Rocci says.
The plan is to stay just a bit ahead of demand for the company’s services, which continues to grow through word-of-mouth and referrals from existing clients, Rocci says.
While he can’t share client names due to confidentiality agreements, Rocci says the company’s top client makes up about 10 percent of Prevalere’s total business. The company’s oldest client has been with Prevalere since day one and is one of the top three clients. And seven of the top 10 clients have done business with Prevalere for seven years or longer.
Contact Gregory at tgregory@cnybj.com
CEO SPOTLIGHT
Dr. Mario L. Rocci, Jr.
CEO
Prevalere Life Sciences, Inc.
• Age: 55
• Education: B.S. in Pharmacy, Ph.D. in Pharmaceutics from SUNY at Buffalo
• Residence: Utica
• Family: Wife — Donna; Son —Mark
• Year became CEO: 2002
• Favorite part of the job: The diversity of the types of people I get to work with on a daily basis. I also enjoy the strategic planning required to foster and accommodate the substantial growth that the company has enjoyed.
• Hobbies: Golf, socializing with family and friends.
• Favorite book: The DaVinci Code
• Favorite movie: The very first “Rocky” movie.
COMPANY FACTS
Prevalere Life Sciences, Inc.
8282 Halsey Road
Whitesboro, N.Y. 13492
Phone: (315) 736-3050
Fax: (315) 736-2460
• Type of business: Contract research organization
• Products or services offered: Consulting and laboratory testing services to the research and development arms of pharmaceutical and biotechnology companies
• Year founded: 2002
• Employees: 95
• Headquarters square footage: 48,000
• Company officers: Chairman of the Board: Thomas Rossiter; CEO: Dr. Mario L. Rocci, Jr.; CFO: Barry McArdle
• Annual revenue: Declined to disclose
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