LOS ANGELES, March 29, 2018 /PRNewswire/ -- Stellar
Biotechnologies, Inc. (Nasdaq: SBOT), a leading manufacturer of a
key protein utilized in multiple immunotherapy development
pipelines targeting Alzheimer's, lupus and cancers, among other
diseases, initiated the second phase of an expansion project at the
Port of Hueneme, north of Los Angeles,
California.
The construction project will allow the company to expand
production of a medical-grade protein, called KLH, which Stellar
produces in aquaculture from a marine mollusk. The plan includes
10,000 square feet of renovated Pacific ocean-front space for
aquaculture production and related activities as well as new
protective structures and aesthetic improvements. The company
currently maintains an animal population to produce KLH to support
multiple pre-commercial clinical trials. Once key infrastructure is
in place, the company plans to incrementally add to its production
capacity, including the installation of more aquaculture tanks. The
planned upgrades will allow a multifold expansion of the company's
current site capacity.
The first phase of Stellar's expansion project, which was
completed in 2016, included improvements to the company's
extraction and manufacturing suites, expanded hatchery space and
the temporary relocation of its aquaculture production tanks to
allow the permitting and development of its water-front site. The
company currently leases 37,000 square feet of oceanfront property
at the Port.
Stellar President and Chief Executive Officer Frank Oakes said that the company plans to
incrementally increase production capacity in line with customers'
clinical milestones and market opportunities for KLH. "We are
preparing our infrastructure to support pharmaceutical industry
standards for commercial drugs, including purity, controls and
traceability," he said. "By staging these investments, we can
prepare the business for growth while minimizing upfront
costs."
Stellar Biotechnologies has operated since 1999 at the
aquaculture business park, where it pioneered complex methods for
the culture of the source animal, the Giant Keyhole Limpet, a
previously undomesticated mollusk that is native to the
California coastline. Today,
Stellar supports limpets from embryo to protein-producing adult,
and has multiple generations grown entirely within its land-based
aquaculture facility. It is the only known facility that has
accomplished this.
"As a science-based company, our business requires flexibility
as we grow, and we have appreciated the support we have received
from both the City and the Port over the years in upgrading our
facilities," said Gregory T. Baxter,
PhD, Stellar Executive Vice President of Corporate Development. "In
addition to greater operational flexibility, our current expansion
project will allow us to continue our research of this important
marine species to ensure that future immunotherapies will have
ample supplies of KLH."
In addition to the company's plans to expand its U.S production
capacity, Stellar also plans to establish additional aquaculture
capabilities in Baja California,
including the development of regional marine resources, aquaculture
and raw material processing. The company, which is currently
conducting feasibility analyses in Mexico, believes that two production locations
will allow it to better meet the anticipated long-term industry
demand for KLH protein.
About Stellar Biotechnologies
Stellar Biotechnologies, Inc. (Nasdaq: SBOT) is the leader in
sustainable manufacture of Keyhole Limpet Hemocyanin (KLH), an
important immune-stimulating protein used in wide-ranging
therapeutic and diagnostic markets. KLH is both a key
pharmaceutical ingredient in many new immunotherapies
(targeting cancer, immune disorders, Alzheimer's and inflammatory
diseases) as well as a finished product for measuring immune
status. Stellar is unique in its proprietary methods, facilities,
and KLH technology. The company is committed to meeting the growing
demand for commercial-scale supplies of GMP grade KLH, ensuring
environmentally sound KLH production, and developing KLH-based
active immunotherapies. Stellar KLH is a trademark of Stellar
Biotechnologies.
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Stellar Forward-Looking Statements
This press release may contain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Forward-looking statements may be identified by the use of
words such as "anticipate," "believe," "plan," "estimate,"
"expect," "intend," "may," "will," "would," "could," "should,"
"might," "potential," or "continue" and variations or similar
expressions. Readers should not unduly rely on these
forward-looking statements, which are not a guarantee of future
performance. There can be no assurance that forward-looking
statements will prove to be accurate, as all such forward-looking
statements involve known and unknown risks, uncertainties and other
factors which may cause actual results or future events to differ
materially from the forward-looking statements. Such risks include,
but may not be limited to: general economic and business
conditions; technology changes; competition; changes in strategy or
development plans; availability of funds and resources; anticipated
requirements for operating capital; governmental regulations and
the ability or failure to comply with governmental regulations;
changes in trade policy and international law; the timing of
Stellar's or its partners' anticipated results, including in
connection with clinical trials; the ability to meet the goals of
Stellar's joint ventures and strategic partnerships; and other
factors referenced in Stellar's filings with securities regulators.
For a discussion of further risks and uncertainties related to the
Stellar's business, please refer to Stellar's public company
reports filed with the U.S. Securities and Exchange Commission and
the British Columbia Securities Commission. All forward-looking
statements are made as of the date hereof and are subject to
change. Except as required by law, Stellar assumes no obligation to
update such statements. This press release does not constitute an
offer or solicitation of an offer for sale of any securities in any
jurisdiction, including the United
States.
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SOURCE Stellar Biotechnologies, Inc.