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PHARMARON BEIJING CO LTD - PHRBY STOCK NEWS

Welcome to our dedicated page for PHARMARON BEIJING CO news (Ticker: PHRBY), a resource for investors and traders seeking the latest updates and insights on PHARMARON BEIJING CO stock.

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Pharmaron Beijing Co. has announced a substantial expansion of its Gene Therapy CDMO facility in Liverpool, UK, after securing a grant from the UK Government’s Life Sciences Innovation Manufacturing Fund. This £151M project will quadruple its gene therapy development capacity, adding over 8,000 sqM focused on viral vector, DNA, and RNA production. The expansion, which began in January 2023 and is expected to complete in 2024, aims to support 29 ongoing gene therapy and vaccine projects and bolster Pharmaron's scientific team. The facility was acquired from AbbVie in 2021, and growth is anticipated to continue through the existing operations.

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Pharmaron, a leading R&D service provider, has signed an Asset Purchase Agreement to acquire the Coventry API manufacturing site in Rhode Island from Noramco. This strategic move aims to enhance Pharmaron's chemistry and manufacturing capabilities in the US, thereby expanding its global service offerings. The Coventry Site has been FDA-approved and is equipped for cGMP API manufacturing. The acquisition is expected to close after meeting standard conditions, reinforcing Pharmaron's position in the integrated drug R&D and manufacturing market.

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