Emergent BioSolutions to Invest $75 Million in Canton Site and Expand Viral Vector and Gene Therapy Capability
June 18 2020 - 6:30AM
Emergent BioSolutions (NYSE: EBS) today announced that it will
further strengthen its contract development and manufacturing
(CDMO) capabilities by expanding into viral vector and gene
therapy. The company will invest $75 million in its Canton,
Massachusetts facility, which is focused on the development and
manufacturing of drug substance for live viral vaccines, including
the company’s smallpox vaccine.
“Emergent’s expansion into advanced therapy CDMO services is
based on our biologics expertise and a strong understanding of our
customers’ current and future needs,” said Sean Kirk, EVP,
manufacturing and technical operations at Emergent BioSolutions.
“We are investing in our people, plants, and products to meet the
growing demand for precision treatments and to help get these
therapies to patients.”
The investment will include a state-of-the-art, multi-suite
operation up to 1000L scale. Emergent’s infrastructure and proven
track record in development, manufacturing, and commercialization
of solutions that address public health threats provide the
foundation for differentiated services.
“We are energized by the continued growth of our CDMO offerings
and this new focus on advanced therapies,” said Syed T. Husain, SVP
and CDMO business unit head. “As a leading CDMO service provider,
our goal is to support the needs of industry and fellow innovators
in line with our mission – to protect and enhance life.”
The company plans to provide full molecule-to-market CDMO
services for viral vector and gene therapy innovators, by offering
development services out of its Gaithersburg location, drug
substance manufacturing out of Canton, and drug product
manufacturing at its Rockville location, which is in the midst of a
recently announced significant expansion that is scheduled to be
operational at the end of 2021.
Emergent’s CDMO business has the capability to work with five
technology platforms – mammalian, microbial, live viral, advanced
therapy, and plasma – across a network of nine development and
manufacturing sites, to support the entire drug development life
cycle.
Aligned with Emergent’s five-year growth plan, which was
presented during the company’s 2019 Analyst and Investor Day, this
investment supports the strategies of protecting the core business
and building scalable capabilities. The addition of advanced
therapy scale to the Canton facility will build upon its biologics
platforms and will complement existing capabilities related to the
company’s smallpox vaccine.
Through this strategic facility acquisition and expansion of the
Canton site footprint, Emergent further secures the long-term
supply chain of the only single-dose smallpox vaccine and broadens
its advanced therapy capabilities increasing its overall CDMO
service offerings.
About Emergent BioSolutionsEmergent
BioSolutions is a global life sciences company whose mission is to
protect and enhance life. Through our specialty products and
contract development and manufacturing services, we are dedicated
to providing solutions that address public health threats. Through
social responsibility, we aim to build healthier and safer
communities. We aspire to deliver peace of mind to our patients and
customers so they can focus on what’s most important in their
lives. In working together, we envision protecting or enhancing 1
billion lives by 2030. For more information visit
www.emergentbiosolutions.com. Find us on LinkedIn and follow us on
Twitter @emergentbiosolu and Instagram @life_at_emergent.
Safe Harbor StatementThis press release
includes forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Any statements,
other than statements of historical fact, including statements
regarding our strategy, future operations, prospects, growth plans,
objectives, and any other statements containing the words "will,"
"believes," "expects," "anticipates," "intends," "plans,"
"targets," "forecasts," "estimates" and similar expressions in
conjunction with, among other things, discussions about the
anticipated benefits of the expansion of the Canton facility and
our other facilities, the timing of the completion of such
expansion and meeting the demand for precision gene therapy
treatments are forward-looking statements. These forward-looking
statements are based on our current intentions, beliefs and
expectations regarding future events. We cannot guarantee that any
forward-looking statement will be accurate. Investors should
realize that if underlying assumptions prove inaccurate or unknown
risks or uncertainties materialize, actual results could differ
materially from our expectations. Investors are, therefore,
cautioned not to place undue reliance on any forward-looking
statement. Any forward-looking statement speaks only as of the date
of this press release, and, except as required by law, we do not
undertake to update any forward-looking statement to reflect new
information, events or circumstances.
There are a number of important factors that could cause the
company's actual results to differ materially from those indicated
by such forward-looking statements, including the amount of time it
takes to complete the buildout of our Canton and other facilities
and obtain regulatory approvals needed to complete planned
improvements, our ability to secure and maintain contracts
sufficient to utilize the full potential of the expanded facilities
and our manufacturing capabilities and strategy. The foregoing sets
forth many, but not all, of the factors that could cause actual
results to differ from our expectations in any forward-looking
statement. Investors should consider this cautionary statement, as
well as the risk factors identified in our periodic reports filed
with the Securities and Exchange Commission, when evaluating our
forward-looking statements.
Media Contact:Miko B. NeriSenior Director,
Corporate Communications240-631-3392NeriM@ebsi.com
Investor Contact:Robert G. BurrowsVice
President, Investor Relations240-631-3280BurrowsR@ebsi.com
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