GAITHERSBURG, Md., Sept. 13 /PRNewswire-FirstCall/ -- MedImmune, Inc. (Nasdaq: MEDI - News) announced today its official groundbreaking to expand the biologics manufacturing facility at its existing site in Frederick, Maryland. MedImmune’s Synagis® (palivizumab), the first monoclonal antibody approved by the U.S. Food and Drug Administration (FDA) to help prevent an infectious disease, is currently produced at the site. The $250-million expansion is the first phase of a multi-phase construction project that MedImmune announced last fall.
“This groundbreaking highlights MedImmune’s leadership in the state’s biotechnology industry, and its expertise in cell culture-based manufacturing,” said Bernardus N.M. Machielse, Drs., senior vice president, operations. “Our decision to expand the Frederick site was facilitated in part by our cooperative relationship with state and local government.”
“We are pleased that MedImmune has chosen to remain an anchor in Maryland’s biotechnology corridor by expanding its existing manufacturing center,” said Governor Robert L. Ehrlich, Jr. “This expansion is an important component in Maryland’s drive toward ‘technology dominance.’ With outstanding private sector companies such as MedImmune, world-renowned academic and research facilities and a workforce second to none, Maryland is truly poised to be the biotech capital of the world.”
The expansion will increase MedImmune’s cell culture manufacturing production capacity in preparation for the company’s future monoclonal antibodies that are currently in development, should they receive approval by the FDA. MedImmune’s cell culture-based manufacturing expertise was recently underscored by a $170-million, five-year contract from the U.S. Department of Health and Human Services (HHS) to develop cell culture-based seasonal and pandemic vaccines for which the Frederick facility will be the future production site. The contract supports the U.S. government’s goals to provide enough capacity to protect all Americans.*
To date, MedImmune has purchased the raw materials and equipment, such as structural steel and bioreactors, needed for the expanded facility. The company has also designated Parsons as the architectural firm responsible for the design of its new facility. Phase 1 of the expansion is expected to be complete in late 2009. MedImmune, the City of Frederick Department of Economic Development and the Frederick County Office of Economic Development will continue to collaborate on the infrastructure necessary to support the site expansion.
About MedImmune, Inc.
MedImmune strives to provide better medicines to patients, new medical options for physicians, rewarding careers to employees, and increased value to shareholders. Dedicated to advancing science and medicine to help people live better lives, the company is focused on the areas of infectious diseases, cancer and inflammatory diseases. With more than 2,400 employees worldwide, MedImmune is headquartered in Maryland. For more information, visit the company’s website at http://www.medimmune.com.
This announcement contains, in addition to historical information, certain “forward-looking statements” regarding MedImmune. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change current expectations and could cause actual outcomes and results to differ materially from current expectations. In addition to risks and uncertainties disclosed in MedImmune’s filings with the U.S. Securities and Exchange Commission, construction of new facility space for manufacturing of biological products is inherently risky and may encounter unexpected delays and setbacks. For example, MedImmune can provide no assurance that the proposed construction of the facility will occur on the timeline expected or that the facility will receive regulatory approval for the manufacture of MedImmune’s biological products. In addition, MedImmune can provide no assurance that it will have sufficient manufacturing need to fully utilize the manufacturing capacity of the expanded facility or that the projected number of new jobs will be created. MedImmune undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise except as may be required by applicable law or regulation.
*This project has been funded in whole or in part with Federal funds from the Office of Public Health Emergency Preparedness, Office of Research and Development Coordination, under Contract No. HHS0100200600010C.
Source: MedImmune, Inc.
