Avid Bioservices Appoints Pramthesh (Prem) Patel, Ph.D., as Vice President, Process Development for Mammalian Cell Business
September 01 2022 - 08:05AM
GlobeNewswire Inc.
Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated biologics
contract development and manufacturing organization (CDMO) working
to improve patient lives by providing high quality development and
manufacturing services to biotechnology and pharmaceutical
companies, today announced the appointment of Pramthesh (Prem)
Patel, Ph.D., as vice president, process development for its
mammalian cell business. Dr. Patel is an accomplished
biopharmaceutical industry executive with more than 30 years of
experience and a track record of success in developing
manufacturing processes for clinical trial material and commercial
supplies. His career is highlighted by extended tenures supporting
research, development and manufacturing activities at GSK (formerly
known as GlaxoSmithKline) and Bristol Myers Squibb.
Prior to joining Avid, Dr. Patel spent more than
23 years at GSK, most recently serving as senior director. In this
role he managed the team responsible for the company’s mammalian
cell culture and microbial fermentation process development for
biopharmaceuticals. While at GSK, he was also chairperson of the
technology and platform progression review committee, as well as a
member of the team responsible for establishing the overall growth
strategy for the company’s entire biopharmaceutical CMC development
division. Dr. Patel also spent more than a decade with Bristol
Myers Squibb, most recently as group leader responsible for
designing and developing new and innovative mechanism-based screens
adaptable to ultra-high throughput and aimed at discovering novel
pharmacophores. Dr. Patel began his career as a postdoctoral
scholar at Virgina Tech University. He earned a Ph.D. in microbial
and cellular physiology from the University of Florida.
“Prem has spent more than 30 years helping drive
innovation in the areas of biopharmaceutical research, development
and manufacturing, serving in key leadership roles at two of the
most successful global pharmaceutical companies. His recent work at
GSK, spanning technology transfer, process scale-up,
characterization and validation, and media optimization, is
particularly relevant to our mammalian cell process development
activities and will offer Avid great insight into how we can best
serve our current and future Big Pharma customers. We are delighted
to add his technical expertise and Big Pharma perspective to our
team as we continue efforts to strategically grow our mammalian
cell business,” said Nick Green, president and chief executive
officer of Avid Bioservices.
Avid recently announced plans for further
expanding its process development capacity for its mammalian cell
business. As part of these efforts, Avid is expanding its
state-of-the-art laboratories which could support an additional $20
million in annual process development revenue, doubling the
company’s current process development capacity. The company
anticipates that this expansion will be completed by the end of
first calendar quarter in 2023.
About Avid Bioservices, Inc.
Avid Bioservices (NASDAQ:CDMO), an S&P
SmallCap 600 company, is a dedicated contract development and
manufacturing organization (CDMO) focused on development and CGMP
manufacturing of biologics. The company provides a comprehensive
range of process development, CGMP clinical and commercial
manufacturing services for the biotechnology and biopharmaceutical
industries. With 29 years of experience producing monoclonal
antibodies and recombinant proteins, Avid's services include CGMP
clinical and commercial drug substance manufacturing, bulk
packaging, release and stability testing and regulatory submissions
support. For early-stage programs the company provides a variety of
process development activities, including upstream and downstream
development and optimization, analytical methods development,
testing and characterization. The scope of our services ranges
from standalone process development projects to full development
and manufacturing programs through
commercialization. www.avidbio.com
Forward-Looking
StatementsStatements in this press release, which are not
purely historical, including statements regarding Avid
Bioservices' intentions, hopes, beliefs, expectations,
representations, projections, plans or predictions of the future,
are forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. The forward-looking
statements involve risks and uncertainties including, but not
limited to, the risk that the expansion of the process
development laboratories may experience delays. Our business could
be affected by a number of other factors, including the risk
factors listed from time to time in our reports filed with
the Securities and Exchange Commission including, but not
limited to, our annual report on Form 10-K for the fiscal year
ended April 30, 2022, as well as any updates to these risk
factors filed from time to time in our other filings with
the Securities and Exchange Commission. We caution investors
not to place undue reliance on the forward-looking statements
contained in this press release, and we disclaim any obligation,
and do not undertake, to update or revise any forward-looking
statements in this press release except as may be required by
law.
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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