Avid Bioservices Inc CDMO

NAS: CDMO | ISIN: US05368M1062   14/11/2024
11,93 USD (-2,21%)
(-2,21%)   14/11/2024

Avid Bioservices, Inc. and CRB highlight efforts that enabled opening of first phase of new viral vector facility in California in only eight months

53,000-square-foot facility addresses unique demands of commercial-scale viral vector production

COSTA MESA, Calif., June 16, 2022 /PRNewswire/ -- Avid Bioservices, Inc. (NASDAQ:CDMO), a dedicated contract development and manufacturing organization (CDMO) focused on development and CGMP manufacturing services for biotechnology and pharmaceutical companies, today highlighted the companies' collaborative efforts that enabled the phase-one opening of its new purpose-built, 53,000-square-foot viral vector and CGMP facility in Costa Mesa, California, in only eight months.

The facility was designed and constructed by CRB – a leading global provider of sustainable engineering, architecture, construction, and consulting solutions to the life sciences industry – and built using the company's innovative ONEsolution™ project delivery approach.

By leveraging a single project team to align with Avid on cost and schedule without sacrificing quality, CRB's design and execution fulfills Avid's mission to address a critical gap in the treatment of oncology and rare disease by prioritizing the specific needs of the unique process development and manufacturing of viral vectors used in those treatments.

"Expanding our offerings into viral vectors was a natural adjacency for Avid, as previously explained by our CEO, Nick Green. However, the work really came down to finding a design-build partner with the process, design, and construction expertise to help us deliver a best-in-class facility within a constrained schedule and budget. CRB has done a great job filling this need for Avid and partnering with us to ensure this new facility meets the needs of current and future clients," said Mike Alston Jr., director of project engineering for Avid Bioservices. "We have been able to leverage dedicated design and construction teams for phase 1 and 2 to enable continuity across the facility, and also placed a major focus on early procurement and scheduling. Considering the challenges of the current supply chain environment, it has been nothing short of remarkable for Avid and CRB to be opening the doors of Avid's new viral vector process development labs here in June."

The state-of-the-art facility at full build-out will include capacity for adherent and suspension cultures. The second phase is expected to become operational in mid-calendar year 2023.

"When presented with the opportunity to lead and support Avid's organic growth and expansion of our business in the cell and gene therapy CDMO space, I was tremendously excited to be a part of the team. Next when given the project parameters, schedule, budget, the first thing that came to mind, was ensuring we had trusted partner that could anticipate our needs and could work collaboratively and creatively to achieve our goals," said Rami Barghout, director of viral vector facilities for Avid Bioservices. "To that end, CRB has been an instrumental partner technically and in navigating us through construction to achieve our aims."

"We're so excited to have worked alongside Avid to help them realize their vision for a facility that answers an important but unmet need through the commercial-scale production of viral vectors," said Matthew Khair, CRB's vice president for the Western Region. "The close collaboration, enhanced planning and cultural alignment between teams created an unrivaled project experience and resulted in a facility that can close that production gap and speed therapies to patients."

About Avid Bioservices, Inc.

Avid Bioservices (NASDAQ:CDMO), an S&P SmallCap 600 company, is a dedicated contract development and manufacturing organization (CDMO) focused on development and CGMP manufacturing of biologics. The company provides a comprehensive range of process development, CGMP clinical and commercial manufacturing services for the biotechnology and biopharmaceutical industries. With 28 years of experience producing monoclonal antibodies and recombinant proteins, Avid's services include CGMP clinical and commercial drug substance manufacturing, bulk packaging, release and stability testing and regulatory submissions support. For early-stage programs the company provides a variety of process development activities, including upstream and downstream development and optimization, analytical methods development, testing and characterization. The scope of our services ranges from standalone process development projects to full development and manufacturing programs through commercialization. www.avidbio.com

About CRB:

CRB is a leading provider of sustainable engineering, architecture, construction, and consulting solutions to the food and beverage and life sciences industries. Led by its innovative ONEsolution™ service, CRB provides successful integrated project delivery for clients demanding high-quality solutions, on time and within budget. The company's more than 1,600 employees provide world-class solutions that drive success and positive change for their clients, people, and communities. CRB is a privately held company with a rich history of serving clients throughout the world, consistently striving for the highest standard of technical knowledge, creativity, and execution.

CONTACT:

Avid Bioservices Inc.:
Stephanie Diaz (Investors)
Vida Strategic Partners
415-675-7401
sdiaz@vidasp.com

Tim Brons (Media)
Vida Strategic Partners
415-675-7402
tbrons@vidasp.com

Clarity Quest Marketing:
877-887-7611  
Bonnie Quintanilla, bonnie@clarityqst.com 

CRB:
816-200-5234
Chris Clark, chris.clark@crbgroup.com

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SOURCE CRB

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