DSM Announces Biologics Development and Manufacturing Agreement for Australian Facility
DSM Pharmaceutical Products, the custom manufacturing and technology business of Royal DSM, announced today that it has signed a biologics contract manufacturing agreement with Paranta Biosciences of Melbourne , Australia.
The contract covers the process development and cGMP manufacture by DSM of Paranta's lead recombinant human protein. This project represents an agreement for DSM with an Australian customer at their Brisbane facility.
Paranta Biosciences is an early stage drug development company dedicated to developing and commercializing novel biotherapeutics based on recombinant human follistatin for the treatment of respiratory diseases.
Alexander Wessels, CEO of DSM Pharmaceutical Products, stated, "Working with Paranta is an important milestone for DSM to support the local client base directly from our facility in Australia, expanding our presence in global regions. Our collaboration with Biopharmaceuticals Australia (BPA), the Queensland Government and the Australian Commonwealth Government is already bringing benefits to Australia by providing biopharmaceutical firms local support and manufacturing expertise."
Ross Barrow, CEO of Paranta Biosciences stated, "Follistatin has been shown to have great potential in treating a wide range of inflammatory and fibrotic respiratory diseases, which affect over 300 million people worldwide."
In addition to an R&D and manufacturing site in Groningen, The Netherlands, DSM is building operations in Brisbane, Australia, with the support of the Governments of Queensland and the Commonwealth. The Brisbane facility is DSM's blueprint for its 'biologics plant of the future' for the production of biopharmaceuticals.
BPA, an industry-development company owned by the Queensland State Government, put together the partnering deal with DSM, and is currently project managing the final stages of the construction of the new state-of-the-art facility in cooperation with DSM Biologics."
Financial terms were not disclosed.