Biologics

Oxford BioMedica Agrees To Acquire GMP Manufacturing Facility

(RTTNews) – Oxford BioMedica PLC (OXB.L: News ) said it agreed to buy a manufacturing facility based in UK from RecipharmCobra Biologics, the biologics division of Recipharm AB, for a purchase price of £1.9 million.

The acquisition and operation of the manufacturing facility is a planned use of proceeds following the company’s recent £20 million fundraising which closed on 10 January 2011. The acquisition of the facility is anticipated to be completed by the end of February 2011.

In addition, the acquisition will also reduce the company’s dependence on a single manufacturing source for its growing clinical portfolio and facilitate the rapid implementation of improved manufacturing processes at increased scale.

Click here to receive FREE breaking news email alerts for Oxford BioMedica and others in your portfolio

Josh Sandberg

Josh Sandberg is the President and CEO of Ortho Spine Partners and sits on several company and industry related Boards. He also is the Creator and Editor of OrthoSpineNews.

Related Articles

Back to top button