Avid Bioservices Enters into Contract Manufacturing Agreements with New and Existing Customers
Agreements Include Process Transfer,
Under terms of the first agreement, Avid will provide process transfer and clinical manufacturing services to the large pharmaceutical company to support development of a novel therapeutic candidate. Avid and its client will immediately commence process transfer of cell line and bench scale information for the program, followed by initiation of 2000 liter CGMP clinical manufacture of the compound.
Additionally, Avid has signed a new agreement with an existing biotechnology customer to provide process development and clinical manufacturing services to support development of a novel drug candidate. This represents the fourth separate compound for which Avid has been awarded the contract manufacturing business by this existing biotechnology client. This project will commence immediately with process development activities which will support the initiation of 200 liter CGMP clinical manufacture of the compound.
“These two new manufacturing contracts represent key business development successes which serve to maintain the momentum we have established at Avid toward our dual goals of revenue growth and customer base diversification. Importantly, we have established a high-value relationship with one of the world’s largest pharmaceutical companies, while continuing the expansion of one of our key existing client relationships,” said
In winning these projects, Avid was selected from a competitive field of internationally recognized contract development and manufacturing organizations.
Avid Bioservices is a dedicated contract development and manufacturing organization (CDMO) focused on development and CGMP manufacturing of biopharmaceutical products derived from mammalian cell culture. The company provides a comprehensive range of process development, high quality CGMP clinical and commercial manufacturing services for the biotechnology and biopharmaceutical industries. With 25 years of experience producing monoclonal antibodies and recombinant proteins in batch, fed-batch and perfusion modes, Avid's services include CGMP clinical and commercial product manufacturing, purification, bulk packaging, stability testing and regulatory strategy, submission and support. The company also provides a variety of process development activities, including cell line development and optimization, cell culture and feed optimization, analytical methods development and product characterization. www.avidbio.com
|Stephanie Diaz (Investors)
Vida Strategic Partners
|Tim Brons (Media)
Vida Strategic Partners
Source: Avid Bioservices, Inc