By Veronica Grecu, Associate Editor
Iroko Pharmaceuticals hosted a ribbon cutting ceremony, which was attended by Philadelphia Mayor Nutter, local officials and more than 150 attendees. “Iroko represents a growing presence within Philadelphia and The Navy Yard’s business landscape, and provides critical economic momentum to the region by triggering job growth at an important time,” said Philadelphia Mayor Michael Nutter who attended the opening ceremony at the South Philadelphia site.
Founded in 2007 as a pharmaceutical company specializing in the development and commercialization of innovative therapeutic products, Iroko used to occupy around 19,000 square feet in another Navy Yard building. “Our new headquarters is symbolic of the huge strides we have made as a company in five short years and demonstrates our commitment to building a strong future for our company and our local community” said Osagie Imasogie, chairman of Iroko Pharmaceuticals.
Iroko’s new 56,412-square-foot global headquarters building is located at 150 Rouse Boulevard and was designed by local architecture firm Digsau to achieve LEED Gold certification. Built predominantly with locally sourced materials, the facility was equipped with high performance systems that manage energy, air, storm water and indoor environmental quality. In order to minimize solar gain, the building’s façade features multiple glass assemblies and precast concrete panels. According to an older report by the Philadelphia Business Journal, Liberty Property Trust and Synterra Partners invested $15.4 million in this project, which is the seventh commercial property the joint venture developed at the Philadelphia Navy Yard.
Iroko alreay moved its 60 employees in the new building and plans to hire another 120 over the next couple of years.
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Rendering of Iroko Pharmaceuticals’ headquarters building courtesy of Digsau