Avid Bioservices, Inc. announced that the company is further expanding its process development capacity for its mammalian cell business. As part of these efforts, Avid is expanding its state-of-the-art laboratories which could support an additional $20 million in annual process development revenue, doubling the company’s current process development capacity. The company estimates that this expansion will cost approximately $6 million and completion is anticipated by the end of calendar 2022. This expansion follows previous investments in increased process development capacity made in fiscal year 2019 and the most recent addition of high throughput capabilities in both upstream and downstream processing in fiscal year 2022.
Process development represents a vital CDMO function and one through which Avid provides a critical advantage to customers in both early and late stages of development. This planned expansion further strengthens the company’s capabilities in the areas of R&D support, process development, process characterization and validation, and pilot scale production for a broad range of mammalian cell-based biotechnology products. The new suites will further enhance Avid’s ability to develop and deliver cost-effective, robust, scalable and compliant processes and to drive efficient and rapid on-boarding of new customer programs progressing to CGMP manufacturing.
“Avid continues to diligently and strategically expand our capacity across all segments of our CDMO business in order to ensure that we are always able to meet the needs of current and future customers. This latest project will generate additional upstream and downstream process development capacity at the front-end of our mammalian cell business, which is critical for the efficient on-boarding of new customer projects,” said Nick Green, president and chief executive officer of Avid Bioservices. “With several expansion projects underway across various facilities and business segments, we feel that we are well positioned to take advantage of the increasing demand for high-quality CDMO services and continue to rapidly grow our revenue.”
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