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news.CSL, a company into development and manufacture of vaccines and plasma protein biotherapies, has initiated a new biotechnology project for cancer drug development at its manufacturing site in Broadmeadows, Australia.
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CSL said that the main aim of the project is to create Victoria’s first large scale biotechnology facility for the late stage development of new therapies for cancer, bleeding disorders, inflammation and infection.
CSL’s Broadmeadows site currently houses manufacturing facilities that produce specialised medicines. CSL’s investment is expected to include enhancements to the site to support the integration of the new biotech facility and to ensure it has the appropriate infrastructure to cater for expanded activities into the future.
The project is expected to represent a total investment of $235m over 4-5 years.
Brian McNamee, CEO of CSL said: “Our R&D portfolio contains promising life-saving therapies for serious human diseases. This new facility is expected to enable CSL to develop products for clinical trials and future patient use.”