Biotechnology company plans EUR 8 mln. investment in Vilnius

Biotechnology company Sanobiotec, registered last year and implementing an oncologic research project in cooperation with Lithuania's National Cancer Institute, is setting up its activity at Vilnius City Innovation Industrial Park and plans to invest up to 8 million euros and create 80 new jobs, the Verslo Zinios business daily writes.

The company will set up in an area of 55 acres and plans to build a research and experimental development center and administrative premises.

The construction is set to start in November, and the company plans to start its activities in 2021.