Puerto Rico-based Invest Puerto Rico and the Puerto Rico Department of Economic Development and Commerce announced on Monday that CytoImmune Therapeutics Puerto Rico LLC, a company involved in commercialising a coordinated immunotherapy platform for cancer treatments, is setting up cell therapy operations in Puerto Rico in 2021.

The new company is to develop novel, coordinate immunotherapy solutions for cancer patients. It is an affiliate of the California-based CytoImmune Therapeutics, organised under the provisions established by the Puerto Rico Incentives Code (Act 60). The company aims to conduct R&D and manufacturing in a 37,000 square foot facility in Toa Baja.

Rodrick Miller, Invest Puerto Rico CEO, said, 'We are pleased to welcome CytoImmune to Puerto Rico. The company's commitment to stand up R&D and manufacturing facilities on the Island is a testament to Puerto Rico's potential as a viable investment destination and speaks to Puerto Rico's value proposition as a life science hub. We work to strengthen Puerto Rico's position each day with an ever-resilient business ecosystem designed to encourage new investment in the short and long term.'