Nanoform continues rapid expansion with construction of GMP manufacturing plant 12th December 2018
Located within Finland’s largest bioscience concentration, the site at Viikki Life Science Park will accommodate a six-fold growth in capacity. The new drug plant will also increase Nanoform’s ability to handle potent APIs, expediating the route to clinical trials.
The establishment of the new GMP-compliant plant will meet the growing demand for formulations with improved solubility and bioavailability. Nanoform’s proprietary nanonization technology is transforming the way that nanoparticles are produced for therapeutic applications and, by working together with Pharma and Biotech clients, will increase the number of drugs to reach the market.
This rapid expansion in facilities has been accelerated through a EUR 7m cross-border private placement facilitated by Vator Securities and Borenius. This funding will also quickly enable Nanoform to reach its goal of broadening services and furthering international commercialisation. Patients are set to benefit through the development of more efficient treatments and the increased likelihood of finding novel cures.
Christian Jones, CCO of Nanoform said: “We are very excited to announce the construction of our new GMP-compliant facility, a key milestone in our growth strategy. We believe we are the only company globally that can produce excipient-free nanoparticles below 200nm directly from solution and at scale, whilst controlling their physico-chemical attributes. This offers significant advantage for our customers development molecules, enabling solutions to problematic compounds, transforming existing formulations and adding lifecycle protection to current pipeline drugs.”
Edward Hæggström, CEO of Nanoform, said: “Our revolutionary technology is set to double the number of drugs that make it to market each year. The GMP manufacturing facility exemplifies Nanoform’s rapid expansion as a company and our commitment to enhancing treatments for patients across the globe.”