Avid Bioservices enters into contract manufacturing agreements with customers
Avid Bioservices announced that it has signed two new contract manufacturing service agreements to support the development of novel drug candidates. The agreements include the addition of one the world's top ten pharmaceutical companies by revenue to Avid's growing list of customers, as well as the expansion of the relationship with one of the company's existing biotechnology customers. Under terms of the first agreement, Avid will provide process transfer and clinical manufacturing services to the large pharmaceutical company to support development of a novel therapeutic candidate. Avid and its client will immediately commence process transfer of cell line and bench scale information for the program, followed by initiation of 2000 liter CGMP clinical manufacture of the compound. Additionally, Avid has signed a new agreement with an existing biotechnology customer to provide process development and clinical manufacturing services to support development of a novel drug candidate. This represents the fourth separate compound for which Avid has been awarded the contract manufacturing business by this existing biotechnology client. This project will commence immediately with process development activities which will support the initiation of 200 liter CGMP clinical manufacture of the compound.