Nexvet Secures Biomanufacturing Facility in Tullamore
Tullamore, Ireland – September 16th 2015. Minister for Skills, Research and Innovation Damien English today announced that Nexvet Biopharma (Nasdaq: NVET), a veterinary biologics developer, has secured a dedicated biologics manufacturing facility in Tullamore which will lead to the creation of up to 30 new roles over the next year. The project is supported by the Department of Jobs, Enterprise & Innovation through IDA Ireland.
BioNua Limited, a wholly-owned subsidiary of Nexvet, will run business operations at the 20,000 square foot facility, which was previously devoted to producing human biopharmaceuticals. The facility has historically operated under an Investigational Medicinal Products License and a cGMP Manufacturing License from Ireland’s Health Products Regulatory Authority and is equipped with cGMP grade clean rooms, water for injection, purified water, and clean steam generation systems. The manufacturing facility is supported by analytical and development laboratories.
Key elements of the transaction are as follows:
- BioNua Limited will pay €1.75 million to secure the manufacturing assets within the facility;
- BioNua Limited has entered a 10-year lease on the facility, with an option to purchase the building
“The opportunity to assume full control of our manufacturing is compelling, as existing manufacturers may face regulatory uncertainties regarding the manufacture of human and veterinary products in the same facility. Securing this facility at a fraction of its replacement cost reduces this uncertainty and will significantly lower our development expenses and ultimately our cost of goods,” said Dr. Mark Heffernan, Chief Executive Officer of Nexvet.
“Securing this facility is part of our strategic plan for building a vertically integrated biopharmaceutical business in animal health. Our commitment to manufacturing demonstrates our long-term view for these products in this growing industry. We’re excited to join a growing cluster of biopharma developers and manufacturers in Ireland. The Irish Government has shown a strategic focus on this industry as exemplified by their investment in the National Institute for Bioprocessing Research and Training (NIBRT), with which Nexvet has strong ties,” concluded Dr. Heffernan.
Minister for Minister for Skills, Research and Innovation, Damien English TD said: “Jobs are growing in every region of the country – at the heart of our jobs plan is accelerating that employment growth. Recently we launched the Midlands Jobs Plan, aimed at building on the progress we’ve made in that region. Biopharma is a sector where Ireland has major strengths and massive potential, and today’s announcement that Nexvet is establishing a new facility in Tullamore and creating up to 30 new jobs is a great boost for Tullamore and the entire midlands region. I wish Mark and his team every success with this important project.”
Welcoming the news, CEO of IDA Ireland Martin Shanahan said: “Over 50 percent of Ireland’s exports come from the pharmaceutical sector, making it a significant employer and growth driver for the Irish economy. Specialty pharmaceutical developers and biomanufacturers are an ideal fit for Tullamore, which sits at the heart of the Irish life sciences cluster. We look forward to the successful integration of BioNua into the local community.”
BioNua will hire up to 30 staff and invest in state-of-the-art disposable biopharmaceutical technologies, which have a number of advantages over traditional bioprocessing infrastructure including improved adaptability to product demand, reduced risk of contamination, and a reduction in required capital expenditure.
