International biopharmaceutical company Ferring Pharmaceuticals, specialized in reproductive medicine, will strengthen its presence in Switzerland with the opening of a new biotech center.

Over the next three years, Ferring Pharmaceuticals will invest approximately 30 million Swiss francs in a new biotech center, the company announced in a press release. The facility will be based at Ferring’s existing headquarters and manufacturing site in Saint-Prex, in the French speaking canton of Vaud. It will incorporate discovery and development capabilities for monoclonal antibodies, as well as biologics manufacturing capabilities.

“Ferring is committed to investing in innovative technology platforms to create new solutions for patients in our core areas of reproductive medicine and women’s health, gastroenterology and urology,” Michel Pettigrew, President of the Executive Board and Chief Operating Officer at Ferring Pharmaceuticals said in a statement. “This significant investment in state-of-the art manufacturing and development technologies fits our strategy to address unmet patient needs in these areas, and will open up additional opportunities for Ferring to help people live better lives.”

Founded in Malmö, Sweden, in 1950, Ferring Pharmaceuticals currently has approximately 6,500 employees worldwide. In 2006, the company chose Saint-Prex, between Lausanne and Geneva, for its production facility and global headquarters, where around 700 people work today. Fifty new jobs will be created at the site when the biotech center becomes operational in 2019.