Date: 2017-01-11
Type of information: Establishment of a new subsidiary in the US
Compound:
Company: Stellar Biotechnologies (USA - CA) BioEstelar (Mexico)
Therapeutic area: Technology - Services
Type agreement: establishment of a new subsidiary
Action mechanism:
Disease:
Details: * On January 11, 2017, Stellar Biotechnologies announced that the company has completed key steps under its strategic initiative to expand production of its Stellar Keyhole Limpet Hemocyanin (KLH) products. The company established a wholly owned Mexican subsidiary under the name BioEstelar. The new operating entity, headquartered in Ensenada in the state of Baja California, will support Stellar's plan to establish a second aquaculture facility, including the development of regional marine resources, aquaculture, and raw material processing for Stellar's KLH products. Stellar's aim is to accelerate scale-up to support anticipated customer demand for the company's KLH protein, which serves as an active pharmaceutical ingredient for therapeutic vaccines. The company's goal is to be in a position to increase production capacity in order to supply multiple commercial-scale therapeutic vaccines under development. A second site could also provide greater flexibility and backup capacity. In 2015, Stellar entered into an exclusive collaboration agreement with Ostiones Guerrero, to secure a strategic site in Baja California, Mexico, and is currently conducting a multi-year suitability study with Ostiones. Stellar recently placed the source animal for the KLH protein into aquaculture production and initiated quality studies of the KLH protein produced in Mexico -- an important part of confirming its comparability to KLH produced at Stellar's primary facility located north of Los Angeles, California. "Immunotherapies using KLH are in clinical trials around the world, yet the only known source for KLH exists in a limited stretch of Pacific coastline. We now have two organizations operating within this vital zone -- Stellar's headquarters in California and BioEstelar in Ensenada," said Frank Oakes, Stellar President and CEO.
Financial terms:
Latest news:
