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news.ProMetic Life Sciences, a Montreal-based biopharma company specialized in the research, development, manufacture and marketing of a variety of commercial applications for the large-scale purification of biologics, has entered into a long-term lease with Quebec's Institut national de la recherche scientifique (INRS) to secure an existing state-of-the-art facility.
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The facility is expected to help expand ProMetic’s reach into the lucrative plasma-derived therapeutics industry through in-house plasma-derived proteins manufacture at a commercial scale (150,000 liters of plasma annually).
ProMetic’s new subsidiary NewCo will undertake the development and manufacturing of high-value plasma-derived therapeutic biosimilars for ProMetic’s current and future clients and start operations by the end of 2011.
ProMetic’s president and CEO Pierre Laurin said this is a key development for ProMetic as it enables the company to benefit from its Plasma Protein Purification System and prion capture technologies on a commercial scale.
ProMetic CFO Bruce Pritchard said the manufacturing plant will supply plasma-derived therapeutic products to their existing and future clients which should generate significant revenue.