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news.Angel Biotechnology, a biopharmaceutical contract manufacturer, has signed a third GMP manufacturing contract with Materia Medica, a Russian pharmaceutical company.
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The contract, valued at GBP1.1 million, is for process development and GMP manufacture of specific antibodies. This contract will be delivered by mid-2010.
The company also signed a significant expansion to an existing contract with Materia Medica, originally announced in July 2007. After the successful completion of its first phase, this contract’s value has increased to approximately GBP1.3 million and will complete in early 2010. This brings the total value of contracted work with Materia Medica to approximately GBP3 million.
Gordon Sherriff, Angel’s COO, said: “We are very pleased to be Materia Medica’s established manufacturing partner for its pipeline of EU licensed products and look forward to this being the third of a long line of contracts. It is particularly pleasing to sign these contracts while world trading conditions are depressed, highlighting the success of Angel’s strategy to offer specialist GMP manufacturing for advanced biologics.”