Laureate Pharma plans to grow biopharma business
Laureate Pharma Inc, a full-service contract development and manufacturing organisation, has secured US$20m in debt and equity financing to enhance and grow its business.
Laureate Pharma Inc, a full-service contract development and manufacturing organisation, has secured US$20m in debt and equity financing to enhance and grow its business.
Building on some 30 years of experience in the development and supply of protein drug products produced from mammalian cell culture, Laureate Pharma says the finance will enable the company to accelerate product timelines from development through production.
Michael A. Griffith, ceo, said: ‘Our strategically planned improvements coupled with our solid financial footing will position us for exceptional growth.’
The new funds will be used to drive five investment initiatives over a three-year period and will include the upgrading of aseptic fill capabilities through the construction of a new segregated fill suite and the installation of a new fully-automated fill line incorporating vial washing, depyrogenation, filling, and capping. All product contact pathways of the new line will be single-use
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