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CMO rises from biotech's ashes
Introgen Therapeutics, which filed for bankruptcy protection late last year, is getting a second shot at life, of sorts.
Houston investors have purchased the company's manufacturing-related assets, reports the Houston Business Journal, and from them formed contract manufacturer Vivante GMP Solutions. At bankruptcy, the Introgen assets were divided into three: manufacturing patents, therapeutic drug assets, and manufacturing-related assets. The investors took advantage of the latter, which include a facility and documentation required to manufacture third-party biologic drugs and clinical trials.
Vivante's focus is biologics for academic institutions and biotech companies. According to the press report, several biotechs have engaged the CMO, and it retained customers throughout the bankruptcy, as an Introgen subsidiary.
- see the article
Related Articles:
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Introgen 'explores options' after troubled Q3
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Comments
By Anonymous | Posted 10:02am | September 30, 2009
You've got to be kidding! There are still investers foolish enough to put their moneny into a new biologic CMO? Obviously they aren't aware that 99.9% of clinical CMOs have never made a dime (but have lost millions and millions in monthly operating costs).
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