Emergent BioSolutions to Invest $75 Million in Canton Site and Expand Viral Vector and Gene Therapy Capability
Emergent BioSolutions (NYSE: EBS) announced a $75 million investment to expand its Canton, Massachusetts facility, focusing on advanced therapy contract development and manufacturing (CDMO) services. This expansion aims to enhance capabilities in viral vector and gene therapy, with services expected to launch in 2023. The improved facility will enable molecule-to-market CDMO services integrating development, drug substance, and drug product manufacturing across its locations in Gaithersburg and Rockville, Maryland. This strategic move aligns with Emergent's growth plan and enhances its position in public health solutions.
- Investment of $75 million to expand the Canton facility.
- Expansion into advanced therapy CDMO services enhances growth potential.
- Expected availability of advanced therapy manufacturing services in 2023.
- Strategic improvement aligns with the company's five-year growth plan.
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- Company acquires property adjacent to its Canton, Massachusetts live viral drug substance development and manufacturing facility to increase campus footprint and build out advanced therapy capability
- Advanced therapy CDMO drug substance manufacturing services expected to be available beginning in 2023
- Expansion will enable molecule-to-market CDMO services in viral vector and gene therapy utilizing Emergent’s integrated network with development services and drug product manufacturing to be offered out of its Gaithersburg and Rockville, Maryland facilities, respectively
GAITHERSBURG, Md., June 18, 2020 (GLOBE NEWSWIRE) -- Emergent BioSolutions (NYSE: EBS) today announced that it will further strengthen its contract development and manufacturing (CDMO) capabilities by expanding into viral vector and gene therapy. The company will invest
“Emergent’s expansion into advanced therapy CDMO services is based on our biologics expertise and a strong understanding of our customers’ current and future needs,” said Sean Kirk, EVP, manufacturing and technical operations at Emergent BioSolutions. “We are investing in our people, plants, and products to meet the growing demand for precision treatments and to help get these therapies to patients.”
The investment will include a state-of-the-art, multi-suite operation up to 1000L scale. Emergent’s infrastructure and proven track record in development, manufacturing, and commercialization of solutions that address public health threats provide the foundation for differentiated services.
“We are energized by the continued growth of our CDMO offerings and this new focus on advanced therapies,” said Syed T. Husain, SVP and CDMO business unit head. “As a leading CDMO service provider, our goal is to support the needs of industry and fellow innovators in line with our mission – to protect and enhance life.”
The company plans to provide full molecule-to-market CDMO services for viral vector and gene therapy innovators, by offering development services out of its Gaithersburg location, drug substance manufacturing out of Canton, and drug product manufacturing at its Rockville location, which is in the midst of a recently announced significant expansion that is scheduled to be operational at the end of 2021.
Emergent’s CDMO business has the capability to work with five technology platforms – mammalian, microbial, live viral, advanced therapy, and plasma – across a network of nine development and manufacturing sites, to support the entire drug development life cycle.
Aligned with Emergent’s five-year growth plan, which was presented during the company’s 2019 Analyst and Investor Day, this investment supports the strategies of protecting the core business and building scalable capabilities. The addition of advanced therapy scale to the Canton facility will build upon its biologics platforms and will complement existing capabilities related to the company’s smallpox vaccine.
Through this strategic facility acquisition and expansion of the Canton site footprint, Emergent further secures the long-term supply chain of the only single-dose smallpox vaccine and broadens its advanced therapy capabilities increasing its overall CDMO service offerings.
About Emergent BioSolutions
Emergent BioSolutions is a global life sciences company whose mission is to protect and enhance life. Through our specialty products and contract development and manufacturing services, we are dedicated to providing solutions that address public health threats. Through social responsibility, we aim to build healthier and safer communities. We aspire to deliver peace of mind to our patients and customers so they can focus on what’s most important in their lives. In working together, we envision protecting or enhancing 1 billion lives by 2030. For more information visit www.emergentbiosolutions.com. Find us on LinkedIn and follow us on Twitter @emergentbiosolu and Instagram @life_at_emergent.
Safe Harbor Statement
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements, other than statements of historical fact, including statements regarding our strategy, future operations, prospects, growth plans, objectives, and any other statements containing the words "will," "believes," "expects," "anticipates," "intends," "plans," "targets," "forecasts," "estimates" and similar expressions in conjunction with, among other things, discussions about the anticipated benefits of the expansion of the Canton facility and our other facilities, the timing of the completion of such expansion and meeting the demand for precision gene therapy treatments are forward-looking statements. These forward-looking statements are based on our current intentions, beliefs and expectations regarding future events. We cannot guarantee that any forward-looking statement will be accurate. Investors should realize that if underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could differ materially from our expectations. Investors are, therefore, cautioned not to place undue reliance on any forward-looking statement. Any forward-looking statement speaks only as of the date of this press release, and, except as required by law, we do not undertake to update any forward-looking statement to reflect new information, events or circumstances.
There are a number of important factors that could cause the company's actual results to differ materially from those indicated by such forward-looking statements, including the amount of time it takes to complete the buildout of our Canton and other facilities and obtain regulatory approvals needed to complete planned improvements, our ability to secure and maintain contracts sufficient to utilize the full potential of the expanded facilities and our manufacturing capabilities and strategy. The foregoing sets forth many, but not all, of the factors that could cause actual results to differ from our expectations in any forward-looking statement. Investors should consider this cautionary statement, as well as the risk factors identified in our periodic reports filed with the Securities and Exchange Commission, when evaluating our forward-looking statements.
Media Contact:
Miko B. Neri
Senior Director, Corporate Communications
240-631-3392
NeriM@ebsi.com
Investor Contact:
Robert G. Burrows
Vice President, Investor Relations
240-631-3280
BurrowsR@ebsi.com
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