Singapore and Australia. Wednesday 5th April 2006. SciGen Limited (ASX:SIE) has executed a memorandum of understanding with Shreya Biotech to acquire its biological manufacturing facility in India.
Shreya Biotech, a member of the Shreya Group of Companies, was previously SciGen's Contract Manufacturer for its biotechnology derived products and was is in the process of completing a state of the art biological manufacturing facility located at the International Biotech Park in Pune, India. This facility was designed to meet GMP (Good Manufacturing Practices) and is expected to be approved by the US Food & Drug Administration (FDA) and the EMEA in Europe.
The facility will have sufficient capacity to meet the need of SciGen and its partners well into the next decade. It will also provide Contract Manufacturing for other Biotechnology companies.
The acquisition is expected to be completed by 31 May 2006 and is subject to the fulfillment of condition precedent, which includes obtaining the consent of various agencies and the transfer of permits if required.
The manufacturing facility in Israel will serve as a back-up to the Indian facility for the mammalian cell derived products, carry out process development and supply the vaccine for Western Europe, the United States and Canada.
In its initial phase the Chinese facility will be formulating, filing and packaging products for the Chinese markets.
The acquisition of the Indian manufacturing facility will results in SciGen becoming a fully integrated multi-national biotechnology company capable of managing the entire process from development to manufacturing of its portfolio of products.
SciGen Ltd is a biopharmaceutical company involved in commercializing later stage research. It co-develops and markets biopharmaceutical products for human healthcare. SciGen focuses in the areas of gastroenterology, endocrinology and immunology. Its product portfolio includes vaccines and therapeutics.
SciGen acquires rights to manufacture, distribute and market biopharmaceutical products under exclusive licensing arrangements. SciGen's portfolio currently includes proprietary biotechnology-derived products, and biogeneric products, which allow for faster entry into the market, as biogeneric products have undergone much of the clinical development and trials required to bring drugs to market. This minimizes the risks associated with early stage product development. SciGen currently undertakes R&D activities in collaboration with strategic partners and institutions.
SciGen's competitive advantage is in identifying research with commercial potential at an early stage to which it adds its expertise in gaining regulatory approval and bringing products to market.
SciGen is a Singaporean biotechnology company, established in 1988 and listed on the Australian Stock Exchange (ASX code SIE). SciGen is headquartered in Singapore, with offices in Australia, USA, Korea, Vietnam, Hong Kong, and Philippines and partners in India, China, Indonesia, Israel, Poland, Austria and the Netherlands.
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