The Swedish company BioInvent has been selected for manufacturing services by a global pharmaceutical company.
BioInvent International has been selected by a major global pharmaceutical company to provide manufacturing services for one of the products in the pharmaceutical company’s development portfolio.
“Being selected by this global customer to provide manufacturing services speaks to our leading expertise when it comes to antibodies. Our cGMP-certified production facilities meet EU standards for the production of antibodies, ranging from use in research all the way to phase III clinical trials,” said Michael Oredsson, President and CEO of BioInvent. “The agreement is expected to generate about SEK 25 million in revenue over the next three quarters, with the possibility for additional activities as the project progresses.”
Terms and the pharmaceutical company were not disclosed, but the agreement includes payments for manufacturing and providing services such as quality assurance.