Angel Biotechnology Holdings and TransGenRx Inc. sign £800K contract
Released: Tuesday 17th April 2012
Angel Biotechnology Holdings and TransGenRx Inc. sign contract for development of a recombinant interferon product.
Angel Biotechnology Holdings plc, (AIM:ABH), the biopharmaceutical contract manufacturer, is pleased to announce that it has agreed a contract with TransGenRx Inc. (Baton Rouge, USA) for the development and scale up of a recombinant interferon product. The purpose of the contract is to attain acceptable expression levels on which to establish a GMP manufacturing process, which would then be conducted by Angel. This development work for TransGenRx will take place at Angel's GMP facility at Cramlington and will have a value in excess of £800,000.
Dr Stewart White, Acting CEO and Commercial Director, Angel Biotechnology Holdings, said:
"This contract demonstrates the confidence which TransGenRx has in the ability of Angel to develop and manufacture complex proteins and reinforces the board's decision to invest in this additional capacity. We look forward to taking this product through to GMP manufacturing in our Cramlington facility and to a long and fruitful relationship between our respective companies."
Dr Richard Cooper, CSO, "TransGenRx Inc.", said:
"The development and production of this interferon product is key to the future of TransGenRx, hence the reason we have entrusted its delivery to the team at Angel. We are confident this will be the first of a number of projects that we would like to progress with Angel".