A Move to Prepare for U.S. Policies
Aprogen has joined a race to take over a current good manufacturing practice (cGMP) production facility in North Carolina of the United States. The move reflects its strategy to quickly advance into the U.S. market in response to U.S. President Joe Biden’s policy to favor U.S.-made biotech products.
Aprogen announced on Nov. 1 that it has submitted a proposal to the lead manager of the tender, without disclosing the details of its offer.
According to the company, the facility produces finished drugs approved by the U.S. Food and Drug Administration (FDA) for global pharmaceutical companies in Korea, Denmark, and Canada among others. It can make liquid and freeze-dried formulations. The 7,500-square-meter manufacturing facility was renovated with the latest equipment in 2015. Aprogen completed process validation and pilot production at this production facility to produce raw materials for biosimilars in the United States.
As for the acquisition method, Aprogen is negotiating a plan to acquire new shares through a capital increase without using cash equivalents.