BIOVECTRA ANNOUNCES OPENING OF NEW $18MM EXPANSION
BIOVECTRA ANNOUNCES OPENING OF NEW $18MM EXPANSION

Charlottetown, PE - September 14, 2012 - BioVectra announced today that its latest capital expansion, a $18MM investment over the past 16 months, is now operating, and ramping up production for commercial supply of a key drug product for a critical medical need.
Ron Keefe, CEO of BioVectra, stated “BioVectra continues to expand its operations. Over the past four years the Company has spent millions of dollars on research, plant and equipment.  The Company now employs more than 175 people and is projected to employ over 200 people by 2013.”
The new facility, a self-sufficient operating wing at BioVectra’s commercial manufacturing site (11 Aviation Avenue, Charlottetown), was approved for active construction starting in October, 2010.  The project plan included the manufacture of qualification quantities in summer, 2012.  All told, the capacity addition represents a four-fold expansion of previous synthetic manufacturing, and will result in multi-ton quantities of the product being produced annually.  The new wing will immediately employ 20 new, dedicated professionals for the operation in manufacturing, quality control, and engineering functions with planned employment of 36 people at full capacity.  BioVectra is working toward producing launch-preparation quantities of material for the client who developed, and will market, the drug product.
BioVectra and its client were able to reach a long-term supply agreement for commercial production of the drug, which serves a major patient population, by supporting the client’s needs through clinical trials and demonstrating its strengths in managing capital expansion projects.  Innovation PEI was instrumental in enabling the capital expansion, by providing loan financing for the project.
“We are extremely pleased at the successful completion of this capital expansion” stated Dale Zajicek, President of BioVectra.  “We have been working very closely with our customer for over 7 years, and the long-term agreement we were able to form for this business is a result of our expertise in chemistry, manufacturing of drug products, and management of partnering relationships for pharmaceutical development.”
About BioVectra Inc.
BioVectra is a supplier to the global pharmaceutical industry, operating from three, FDA-inspected facilities in Prince Edward Island, Canada.  The company is proficient in synthetic organic chemistry, natural extraction of bioactive compounds, PEGylation and conjugation chemistry, and fermentation of chemical and biologic molecules.  BioVectra has submitted 10 product filings, including ANDA, DMF, VMF, and CMC section preparations for both the U.S. FDA and Health Canada.  These filings have been made for both synthetic and biologic molecules, and include a human injectable API, as well as a final drug product.


For more information, please contact:

Heather Delage
Director, Sales & Marketing
hdelage@biovectra.com

(866) 883-2872 / (902) 566-9116

info@biovectra.com
www.biovectra com

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