Bond Helps Berkshire Sterile Manufacturing Purchase, Renovate Lee Building

Berkshire Sterile Manufacturing (BSM) is committed to making safer drug products. The biopharma start-up needed funds to buy and renovate a 116,000-square-foot building in Lee and acquire new drug manufacturing equipment. MassDevelopment issued a $4,083,000 bond on BSM’s behalf, enhancing the financing package with mortgage and insurance guarantees. Berkshire Bank purchased the bond. The funds enabled BSM to create a state-of-the-art facility with clean rooms, labs, and work areas for product formulation and packaging. The project will bring both jobs and a new industry to western Massachusetts.