“This investment sends a strong signal to our customers and partners by increasing our market competitiveness. It further supports our strategy of reinforcing our high-quality offer for the commercial production of innovative therapies,” said chairman and CEO Michel Spagnol.

The modernization of the cGMP workshop includes the installation of new equipment and the revamping of clean rooms for API isolation. Novasep said the investment will also allow it to develop high-performance capacity for the custom manufacturing of innovative therapeutic molecules.

In addition, the project has been selected as part of the France Relance recovery plan initiated by the French government. Novasep will be supported within the framework of the "Investissements d'Avenir" (Investments for the Future) program, which rewards innovative and promising industrial investments, in order to allow France to increase its economic growth and employment potential.

Last month, Novasep revealed it was planning to spend more than €4 million to expand manufacturing capabilities for highly potent active pharmaceutical ingredients at Le Mans in France.

Author: Elaine Burridge, Freelance Journalist