PacificGMP to merge with Pacific Biopharma Group

Under conditions of the merger agreement, PacificGMP will receive funds to expand its operation in San Diego and assist in the development of the Taizhou facility and preparations for FDA and EMEA audits.

At approximately 200,000 square feet, the Taizhou-based contract manufacturing organization, called China Quantitative Biomedicine, is expected to be one of the largest single-use biomanufacturing facilities in the US or China.

Construction of the facility in Taizhou is expected to be completed in August 2008 with internal construction and equipment installation expected to be completed by the end of 2008.

The new facility is a showcase laboratory and part of a new biopharmaceutical park called China Medical City. The facility will be modeled after PacificGMP’s San Diego facility that utilizes single-use technology throughout the biomanufacturing process.

Gary Pierce, chief business officer of PacificGMP and new COO of Pacific Biopharma Group (PBG), said: “PacificGMP brings know-how and experience in single-use contract manufacturing and PBG brings management and operational know-how and experiences in both the US and China as well as significant investment expansion capital.”