By Eileen Buckley
Buffalo, NY – A downtown company is receiving a big financial boost. A public-private investment will allow Smart Pill to shift manufacturing from Los Angeles to Buffalo.
Smart Pill Corporation is the developer of a capsule used to monitor the gastrointestinal system. It is located in Buffalo's medical corridor. State Comptroller Thomas DiNapoli appeared at Smart Pill's offices on Main Street Wednesday. He says through the state's Pension fund, he is investing $1.2 million into Smart Pill. DiNapoli says as the sole trustee of the Pension fund, he believes this is the right investment.
The company is also receiving another $750,000 from the state's private investment partner High Peaks. Smart Pill president and CEO David Barthel says the investment will help move manufacturing from Los Angeles to Buffalo.
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