Emergent BioSolutions Enters Agreement with ProMetic Life Sciences

Emergent BioSolutions announced on May 19, 2015 that it was entering into an agreement with ProMetic Life Sciences that gives ProMetic long-term access to Emergent’s FDA-licensed facility in Winnipeg, Canada. ProMetic will transfer its manufacturing process and technology into the Winnipeg facility. Emergent will scale-up and manufacture cGMP biopharmaceuticals, and ProMetic will be able to pursue additional investigational new drug filings.

"Emergent is pleased to enter into this agreement, which reflects our leading capabilities in plasma fractionation and fits perfectly with ProMetic's proprietary plasma purification platform," said Barry Labinger, executive vice-president and president, Biosciences Division at Emergent BioSolutions, in a press release. "With this agreement, Emergent has created a revenue stream with significant future growth opportunities based on our manufacturing expertise, which utilizes excess manufacturing capacity and assets that we acquired and successfully integrated from our acquisition of Cangene Corporation. We look forward to working with ProMetic in support of their efforts to develop plasma-derived biopharmaceuticals and in generating and growing a new source of revenue for Emergent."

The agreement requires ProMetic to purchase C$4 million (US$3.27 million) capacity in the first full year of the contract, with the minimum order increasing over the 15-year contract, for an aggregate total of the minimum fees in excess of C$100 million (US$82 million).