Selkirk Pharma secures another $12 million in capital
West Plains project, site tweaked, records showOctober 8th, 2020
Spokane-based injectable-drug manufacturing and packaging startup Selkirk Pharma Inc. has raised more than $12 million in financing.
Separately, Selkirk Pharma has shifted slightly its site for a 147,000-square-foot aseptic manufacturing, warehouse, and office building on the West Plains, and increased the height of the structure.
According to proprietary market data software subscription platform PitchBook, Selkirk Pharma raised $12.2 million in financing from undisclosed investors on Sept. 14.
A representative of Selkirk Pharma didn’t immediately respond to a request for comment.
The company has raised a total of more than $22 million in financing and investments since it was founded in 2018, according to PitchBook.
Meanwhile, a building permit application filed with the city building department in early September shows the company plans to construct a three-story, 147,230-square-foot building, valued at $38 million, on the 9100 block of west Granite Avenue. More than 106,000 square feet will be devoted to manufacturing. About 18,800 square feet will be warehouse space, and office space will occupy about 22,000 square feet.
As previously reported by the Journal, Selkirk Pharma had filed documents with the city in June for a two-story, 147,600-square-foot facility along Granite. However, the building department website shows that the application for that project has been voided, and the current project is under plan review.
Site work permits Selkirk Pharma applied for in late May have been changed to the new site and have been issued by the city, indicating that city has approved installation of the project’s foundation.
According to Spokane County Assessor’s Office records, Selkirk Pharma purchased two vacant development sites along the north side of Granite Avenue in September 2019. The larger, 16.4-acre site at the northeast corner of Granite Avenue and Flint Road, directly north of Northwest Farm Credit Services, was sold to Selkirk Pharma in September 2019 for $1.3 million. Selkirk Pharma also bought the adjoining 8.2-acre site to the east, at the corner of Granite Avenue and South Technology Boulevard, for $1.3 million.
That site was sold about three weeks ago, on September 23, for $1.3 million to a Texas-based company, according to assessor’s office records.
As with the original proposal, the contractor on the project is Spokane-based Bouten Construction Co., Bernardo|Wills Architects PC, of Spokane, designed the project.