A growing, Wilmington-based company has a new name.

Contract drug development and manufacturing firm AAIPharma Services Corp./Cambridge Major Laboratories Inc. revealed its new moniker, Alcami, in a news release Wednesday.  

The company had announced in November that it would be investing $15.8 million in more space for lab operations and corporate offices at its Wilmington headquarters site and adding 37 jobs over the next three years.

Although the company now is called Alcami (pronounced like “alchemy”), those plans are still in place. Catherine Hanley, director of marketing for Alcami, said the firm still expects to break ground on its expanded facilities on Scientific Park Drive in Wilmington in the first quarter of 2017.

In December, the company issued a news release that said that it had expanded its oral solid medication production capabilities by investing in new equipment and adding a second manufacturing shift.

"With nearly 1,000 employees at seven sites in the United States and Europe, these upgrades across our facilities in Wilmington, Charleston, Durham, Germantown, Edison, St. Louis, and Weert, the Netherlands, combined with enhancements in our quality, execution and customer focus, support the overall progress of our growth strategy as a contract services provider with a renewed commitment to meeting customer needs like never before,” said Stephan Kutzer, Alcami’s CEO, in Wednesday’s news release.

“With increases in our capabilities and capacities across all our businesses, our ability to serve the market is stronger than ever," he said.

If Alcami spends at least $20 million on its ongoing expansion by 2019 as planned and creates a minimum of 50 jobs, it would qualify for a $500,000 incentives package that city of Wilmington and New Hanover County officials approved last year.

AAIPharma, which has operated in Wilmington for more than 30 years, and Cambridge Major Laboratories came together in late 2013, according to the news release. The new name, Alcami, "represents the combination of the legacy company names in a contemporary coined name reflective of our transformation to become a world class solution provider to meet the growing pipeline of new products in development within the pharmaceutical and biotech industry," Wednesday's announcement stated.