Avid Bioservices Announces Completion of Expansion of Process Development Capabilities and Laboratory Infrastructure
October 08 2019 - 8:05AM
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. www.avidbio.com
Contacts:
Stephanie Diaz (Investors)
Vida Strategic Partners
415-675-7401
sdiaz@vidasp.com
Tim Brons (Media)
Vida Strategic Partners
415-675-7402
tbrons@vidasp.com
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