BioInvent International announces that it has signed an extended contract for manufacturing services with one of its current customers, a major global pharmaceutical client. The extension covers services for one of the products in the pharmaceutical company’s development portfolio.
Michael Oredsson, President and CEO of BioInvent, said: “We are pleased that we have been contracted to provide additional manufacturing services to this major global pharmaceutical client. The extension of our relationship reflects BioInvent’s world-leading expertise in antibody production based around our cGMP-certified facilities, which meet EU and standards. This new agreement is expected to generate about SEK 8 million in revenue, with the majority occurring in 2016.”
During the year BioInvent has strengthened its ability to independently produce antibodies following the decision to invest in a “Single Use Bioreactor.” This will benefit the development of our internal projects, and will also generate revenue from external companies. BioInvent’s production facility has the capacity to produce antibodies, both for research purposes as for clinical trials all the way through to Phase III.