RAPID CITY, S.D. — Ascent Innovation welcomes Nanopareil, LLC’s team to the Innovation Center. The South Dakota-based company has had lab space at South Dakota School of Mines & Technology since its beginning in 2006. Now, with room to increase production and overall growth at Ascent Innovation, the future is looking bright for Nanopareil.
Nanopareil LLC has developed and patented nanofiber-based purification devices to improve production efficiencies for biopharmaceutical products such as cancer drugs and vaccines. . Biopharmaceuticals represent the fastest growing segment within the pharmaceutical industry and are responsible for many of the most effective therapeutics that save, sustain and improve lives. Unfortunately, to manufacture these pharmaceuticals requires complex bioprocesses and separations that too often lead to extraordinarily high costs of production, which can ultimately get passed on to patients. Nanopareil’s technology can reduce the cost of purifying biopharmaceuticals by over 90%.
“Ascent Innovation has been part of our growth plan for years. We wanted a space that was close by SDSM&T where we have had our lab since we started the company. We have hired more scientists and researchers and have long awaited the opportunity to move into a larger space at the Ascent Innovation Center,” said Todd Menkhaus, PhD, Founder of Nanopareil.
In 2011, the company launched Nanofiber Separations with a start-up’s vision of how their products would be used by their customers. Now, they have expanded their patent portfolio into new markets and ready to grow the development of cutting-edge nanotechonolgies.
The greatest thing Menkhaus and his team are looking forward to is room to grow.
“We are enjoying the opportunity to design the space to meet our needs and enable a much higher level of collaboration amongst our team members. We have outgrown our laboratory at SDSM&T and look forward to being able to spread out and have more laboratory space as well as offices,” he said.
With goals to grow their developing technology to improve biopharmecutical productions around the world, Nanopareil stands to be a great addition to Ascent Innovation and the Rapid City community.
“The product Nanopareil is producing is truly amazing and we are excited to see their growth continuation right here in Rapid City,” said Terri Haverly, Executive Director at Ascent Innovation.
– END –