SAN DIEGO, June 18 PacificGMP and Pacific Biopharma Group(PBG) announced that they have signed a definitive merger agreement and willdevelop a cGMP (current good manufacturing practices) biologics contractmanufacturing organization (CMO) in Taizhou, China. At approximately 200,000square feet, the Taizhou-based CMO, called China Quantitative Biomedicine(CQB), will be one of the largest single-use biomanufacturing facilities inthe US or China. Construction of the facility in Taizhou is expected to becompleted in August 2008 with internal construction and equipment installationexpected to be completed by the end of 2008.
Under conditions of the merger agreement, PacificGMP will receive funds toexpand its operation in San Diego and assist in the development of the Taizhoufacility and preparations for FDA and EMEA audits. The new facility is ashowcase laboratory and part of a new biopharmaceutical park called ChinaMedical City (CMC). CMC is a 12 km2 life sciences focused science park located2.5 hrs outside of Shanghai in Jiangsu Province, the leading pharmaceuticalmanufacturing province in China. The facility will be modeled afterPacificGMP's San Diego facility that utilizes single-use technology throughoutthe biomanufacturing process. Single-use technology has far fewer systemrequirements than traditional re-usable biomanufacturing systems andsignificantly reduces the cost of product manufacturing.
"We believe a significant opportunity exists for global leadership insingle-use contract manufacturing services," said Gary Pierce, Chief BusinessOfficer of PacificGMP and new Chief Operating Officer of PBG. "PacificGMPbrings know how and experience in single-use contract manufacturing and PBGbrings management and operational know how and experiences in both the US andChina as well as significant investment expansion capital."
"We look forward to contributing to the development of a state-of-the-artbiomanufacturing facility in China to address the growing demand for contractmanufacturing services and the rise of the Asian market for proteintherapeutics," added Mr. Pierce. "This marks an important development in ourorganization that will benefit our customers by allowing us to expand thebreadth of cost-effective quality services in San Diego and give our customersthe option of eventual overseas manufacturing."
PacificGMP is a Contract Manufacturing Organization (CMO) and leader inthe industry in single-use technology for development and manufacturing ofbiologics. Single-use technology eliminates the risk of cross-contamination,has fewer system requirements and significantly reduces the time required toinitiate production. Benefits to clients include rapid project turnaround andthe most cost effective solution in the industry. PacificGMP partners withdrug developers by providing a range of cGMP and non-GMP services from earlystages of process design, development and scale-up, to preclinical andclinical manufacturing. More information can be found by visiting theCompany's web site at http://www.pacificGMP.com.
About Pacific Biopharma Group
Pacific Biopharma is a Cayman based company focused on global solutions tocost-effective, US-compliant drug development contract services.Contact: Andrea Lynn 619-993-7629 [email protected]