Selvita announced the initiation of the construction of its own research center in Krakow. The Company signed an agreement with the General Contractor – PORR S.A., which will be responsible for the execution of the investment. The new facility will add much needed research capacity and allow for scale-up of business operations as well as expansion of services offer. The total net value of contract amounts to EUR 19.1 million. The completion of the construction is expected at the turn of 2022/23. Selvita Research Centre will be created in the neighborhood of the current company HQ. At the heart of the new Selvita facility will be an array of laboratories incl. medicinal chemistry, biochemistry, cell & molecular biology, ADME/DMPK, in vivo pharmacology and analytical chemistry. The new facility will have a potential to accommodate approximately 250 employees. Creation of the own laboratory-office complex is one of the key elements of Selvita's Development Strategy for 2020 – 2023 which assumes further organic growth supported with acquisitions. Selvita has secured financing for the investment, including a EUR 9.3 million grant and a EUR 14.3 million bank loan. Selvita currently operates in several locations, with 6,000 m2 of research facilities located in Krakow and Poznan, Poland, as well as 6,000 m2 in Zagreb, Croatia, following the acquisition of Fidelta. The construction of the new building will give Selvita access to an additional 10,000 m2 of space, including approximately 4,000 m2 of laboratory-office space.