20 November 2006. Alpha Biologics Sdn Bhd, the UK and
Malaysian-based contract manufacturer of biologics drugs, is pleased to
announce that it has successfully raised $3 million through its latest funding
round.
The capital, all of which has come from Pequot Capital Management, Inc, in the
US, will help support current commercial discussions and the on-going
construction of the company’s $18 million, 5,000 sq metre manufacturing
facility in Penang.
With $3 million already raised earlier this year, this latest funding round
brings the total raised by Alpha Biologics in 2006 to $6 million. The
company’s main investors now include SpringHill BioVentures Sdn Bhd, Asiaprise
Biotech Sdn.Bhd and Pequot.
The completion of the latest funding round coincides with the official visit
by Tan Sri Dr Koh Tsu Koon on 20 November to view Alpha Biologics’ soon to be
completed facility on the Penang Biotech Park.
Established in 2003 with the support of the Penang Development Corporation
(PDC) and Malaysian Industrial Development Authority (MIDA), Alpha Biologics
is now set to become one of the leading players in Malaysia’s emerging life
sciences industry. The company will provide biopharma and pharma companies
with the opportunity to take biologic drugs through pre-clinical, phase 1 and
phase 2 trials with a strong emphasis on cost efficiency. Alpha Biologics will
specialise in the production of mammalian cell secreted protein drugs,
providing all of the necessary services required to develop and produce drugs
in full compliance with US and European cGMP guidelines.
Construction of the facility’s external shell was finished in October 2006
with clean room installation due to commence in November. The facility is
scheduled for completion with all bioprocess equipment installed mid-2007.
Further validation and qualification will continue with the facility becoming
fully operational by the end of 2007.
Commenting on the latest successful funding round, Simon Saxby, Chief
Executive at Alpha Biologics, said: “I am especially pleased to welcome such a
high quality investor to the company. Pequot has considerable presence in
worldwide life science investments. This is a particularly significant move
for Alpha Biologics. It provides us with additional financial security as we
draw towards the end of the construction phase of the Penang facility.” ends
Notes to editors
About Alpha Biologics
Alpha Biologics is a contract manufacturer of biologics drugs for use in
pre-clinical, Phase1 and 2 clinical trials, anywhere in the world. Established
with the support of the Malaysian Government in 2003, the company’s main 5,000
sq metre manufacturing unit is based in purpose-built cGMP compliant
facilities on the Penang Biotech Park on the island of Penang in Malaysia. Its
European base is located in Cambridge, UK.
The company specialises in the production of mammalian cell secreted protein
drugs. On the completion of its Penang facility in 2007, Alpha Biologics will
provide all of the necessary services required to develop and produce drugs in
full compliance with U.S. and European cGMP guidelines. Alpha Biologics will
be able to offer biopharma and pharma companies significant cost advantages
due to the significantly lower overhead costs compared with Europe and the US,
whilst maintaining the highest standards of compliance. The company’s core
team, led by Chief Executive Simon Saxby, has extensive experience of
designing, building and operating cGMP compliant facilities for biologic drugs
in the US and Europe. This core team has been strengthened by internationally
trained and experienced staff from the world-wide biologics industry and
academia.
About Pequot Capital Management
Founded in 1986, Pequot Capital Management, Inc. is a US registered
investment adviser. It has approximately $7.3 billion in assets under
management including equity, credit and private equity. It has investments in
all major global markets including the United States, Europe, South East Asia,
Japan, Latin America, South America, and India. The company has over 280
employees with offices in Connecticut, New York, Massachusetts, California,
London and Tokyo.
All press enquiries
Andy Matthews
O2PR Ltd
andy.matthews@o2pr.co.uk
Tel: +44 (0) 1223 309500
Simon Saxby
Chief Executive
Alpha Biologics
simon.saxby@alphabiologics.com
www.alphabiologics.com
Tel: +44 (0) 1223 370195
Press release issued by O2PR Ltd on behalf of Alpha Biologics Sdn Bhd
