Date: 2017-10-23
Type of information: Opening of new premises
Compound: gene therapy manufacturing plant in Modiin
Company: VBL Therapeutics (Israel)
Therapeutic area: Cancer - Oncology - Technology - Services
Type agreement: opening of new premises
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• On October 23, 2017, VBL Therapeutics announced the opening of its new gene therapy manufacturing plant in Modiin, Israel. This plant will be the commercial facility for production of its lead product candidate, ofranergene obadenovec (VB-111), if approved.
- The Modiin facility is the first commercial-scale gene therapy manufacturing facility in Israel and currently one of the largest gene-therapy designated ones in the world (20,000 sq. ft.). It is capable of manufacturing in large-scale capacity of 1,000 liters and is scalable to 2,000 liters. The investment in the facility is included in the Company's budget and was also supported by the Israel Innovation Authority, which has provided meaningful governmental grants to the project over the years. VBL expects that its current cash will fund the Company's operating expenses and capital expenditure requirements into 2019. VBL's new headquarters and facility are located in 8 Hasatat Street, Modiin, Israel.
• On October 13, 2016, VBL Therapeutics announced that it has engaged in a long-term lease contract of a new stand-alone facility in Modiin, Israel. The site will house VBL's local biological drugs manufacturing facility, as the company plans ahead for potential commercialization of VB-111. The site design enables modular expansion of the manufacturing capacity, to supply growing demand following commercialization, while requiring only limited capital resources in the immediate stage. The near-term investment is not expected to materially impact VBL's cash position. The company projects that its current cash will suffice to support operations into 2019, beyond the readout of the pivotal GLOBE trial, while supporting a potential registration trial in ovarian cancer and the investment in the new facility. In addition, VBL expects that the establishment of the new facility will qualify for increased governmental financial incentives.
- The new facility will also include the company’s headquarters, discovery research and clinical development. VBL intends to operate and relocate to the new site in the second half of 2017.
- VBL said that future commercial supply of VB-111 will likely involve a complementary source of supply, probably via a Contract Manufacturing partner in North America, although those plans have not yet been set.
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