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The cleanrooms of the 1,700-square meter laboratory, which ate up 7 million US dollars (EUR 6.42 mln) in investment, will be used to develop Dynabeads, the magnetic beads used in cancer immunotherapy research.

“This day marks a new milestone of our Vilnius unit as we, as a research center, take the next step and become part of the medical industry with the opening of new premises. There is still a long way to go until the products win the final approval in the international market. However, considering our activities, it’s just another stage of development.” Algimantas Markauskas, Thermo Fisher Scientific Baltics CEO and vice-president for the Baltic region, said at a news conference on Monday.

Based on the agreement signed in 2014, the project was co-financed by the Lithuanian government. In that agreement, the US company has committed itself to create at least 100 jobs by 2017. Thermo Fisher Scientific Baltics now employs a workforce of 570 in Vilnius.

Thermo Fisher Scientific Baltics reported a net profit of 16.222 million euros for 2014, almost unchanged from the year-earlier level. Annual revenues increased by 1.7 percent to 81.727 million euros.

The Lithuanian company became part of Thermo Fisher Scientific back in 2010 when the US company acquired Fermentas.