News Release Details

Avid Bioservices Announces Completion of Expansion of Process Development Capabilities and Laboratory Infrastructure

October 8, 2019 at 8:05 AM EDT
Company to Host Open House to Celebrate Official Launch of Newly Expanded Laboratories

TUSTIN, Calif., Oct. 08, 2019 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO) (NASDAQ:CDMOP), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality services to biotechnology and pharmaceutical companies, today announced the completion of the expansion of the company’s process development capabilities and laboratory space within its CDMO campus in Orange County, California. To celebrate the launch of its newly expanded facilities, Avid is today hosting an open house and laboratory tour for existing and prospective clients.

Process development represents a vital CDMO function and one through which Avid provides a critical advantage to customers in both early and late stages of development. The completed expansion project further strengthens the company’s capabilities in the areas of R&D support, process development, process characterization and validation, and pilot scale production for a broad range of biotechnology products.

Ultimately, the new suites significantly accelerate Avid’s ability to develop and deliver cost-effective, robust, scalable and compliant processes and to drive efficient and rapid “on-boarding” of new customer programs progressing to manufacturing. Specific enhancements include a four-fold expansion of the company’s process development laboratory footprint and the addition of 24 advanced benchtop process development bioreactors, ranging from 3 liter to 15 liter capacity in single-use and glass.

“We are very excited to bring these state-of-the-art upstream and downstream process development laboratories online. This represents another major milestone in positioning Avid at the top tier of biologics CDMOs and supports the ongoing expansion of our customer base, while providing additional capabilities for our current clients. It perfectly complements Avid's unparalleled record in quality and regulatory compliance and 14 years of commercial biologics manufacturing,” said Rick Hancock, interim president and chief executive officer. “The completion of this work required an impressive collaborative effort among the entire Avid team and our outstanding contractors. I’d like to personally thank all of those whose work contributed to a best-in-class process development capability that sets the stage for continued growth and expansions.”

About Avid Bioservices, Inc.

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.

Stephanie Diaz (Investors)
Vida Strategic Partners
415-675-7401 Tim Brons (Media)
Vida Strategic Partners

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Source: Avid Bioservices, Inc