Radiopharmaceuticals maker Zevacor Molecular opened a $40 million isotope production facility in Noblesville, Indiana. Our firm served as lead counsel for the multimillion dollar real estate transaction and in lease negotiations. Our firm also worked to secure $2 million in city economic incentives to facilitate the project.
The facility utilizes a 70-million-electron-volt cyclotron built in Belgium, which was the first of its size to be used primarily for commercial purposes. As part of the project, the parent company acquired a vacant 71,000-square-foot building, which it leases to Zevacor. A concrete-walled vault was constructed inside the building to house the $30 million particle accelerator.