Emergent Acquires Manufacturing Facility from MdBio and Land from
City of Baltimore for $8.2 Million
ROCKVILLE, Md.--(BUSINESS WIRE)--Nov. 13, 2009--
Emergent BioSolutions Inc. (NYSE:EBS) announced today that it has
completed the acquisition of a 55,000 square foot manufacturing facility
from MdBio Foundation and the land on which the facility stands from the
City of Baltimore for a total purchase price of $8.2 million. The
facility, located within the City of Baltimore, Maryland, previously
operated as a Food and Drug Administration (FDA) licensed facility used
by an experienced contract manufacturing organization (CMO) to produce a
number of FDA approved products.
“Emergent is excited about this new facility in Baltimore because it
houses several suites capable of manufacturing multiple products at the
same time,” said Fuad El-Hibri, chairman and chief executive officer of
Emergent BioSolutions. “Accordingly, this facility will provide the
flexibility to conduct large-scale manufacturing of rPA while also
producing other products in our pipeline.”
Emergent worked closely with the Maryland Department of Business and
Economic Development (DBED), MdBio, the City of Baltimore, Baltimore
Development Corporation, and other related governmental agencies to
complete this transaction.
“Maryland is continuing to strengthen its biotechnology prowess by
helping to grow industry leaders like Emergent BioSolutions,” said
Governor Martin O’Malley. “The transaction between MdBio and Emergent
will maximize the value of the BioProcessing Center by maintaining a
bio-manufacturing infrastructure for Maryland’s bioscience community,
enabling additional investment to be made in the Center and ensuring
that those high paying, highly skilled jobs are created and remain in
Maryland.”
Emergent BioSolutions employs over 600 employees across the globe, with
over 150 employees located in its corporate headquarters in Rockville
and one of its product development sites in Gaithersburg.
“This acquisition reflects our commitment to both continually creating
jobs and investing additional capital in the State of Maryland,” said
Daniel J. Abdun-Nabi, president and chief operating officer of Emergent
BioSolutions. “We extend our sincere appreciation to the state and local
governments for their ongoing support of our efforts to develop our
local manufacturing capabilities and look forward to growing Emergent’s
presence in the state.”
Mayor Sheila Dixon, commenting on the announcement, said, “The City of
Baltimore is excited about welcoming Emergent BioSolutions to the
Baltimore biotech community. With great research institutions such as
Johns Hopkins and the University of Maryland as potential partners in
the area, we know that Emergent will be a wonderful contributor in the
future.”
“Emergent’s decision to expand in Maryland underscores not only our rich
research and development environment, but also our mission to support
the complete product development life cycle that includes bio
manufacturing,” said Maryland Department of Business and Economic
Development Secretary Christian S. Johansson. “The Department was
pleased to work with MdBio Foundation and the Baltimore Development
Corporation to bring this project to fruition.”
About Emergent BioSolutions Inc.
Emergent BioSolutions Inc. is a biopharmaceutical company focused on the
development, manufacture and commercialization of vaccines and
therapeutics that assist the body’s immune system to prevent or treat
disease. Emergent’s marketed product, BioThrax (Anthrax Vaccine
Adsorbed), is the only vaccine licensed by the U.S. Food and Drug
Administration for the prevention of anthrax. Emergent’s development
pipeline includes programs focused on anthrax, botulism, tuberculosis,
typhoid, hepatitis B and chlamydia. Additional information may be found
at www.emergentbiosolutions.com
and www.biothrax.com.
About MdBio Foundation, Inc.
The MdBio Foundation, Inc. is a charitable and educational organization
whose mission is to provide and support the State of Maryland’s
bioscience community through bioscience awareness, education and
workforce development programs including scholarships, post-doctoral
conference and career expos, BioGENEius science competition and summer
science camps. Since 2003, MdBio has operated the MdBioLab, an
educational and well-known mobile bioscience laboratory that visits high
schools throughout Maryland to educate youth on biosciences. Over the
past six years, MdBioLab has held more than 2,800 classes with 55,000
students and 1,500 teachers. MdBio Foundation became an affiliate of the
Tech Council of Maryland in 2006.
Safe Harbor Statement
This press release includes forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Any
statements, other than statements of historical fact, including
statements regarding our strategy, future operations, future financial
position, future revenues, projected costs, prospects, plans and
objectives of management, including any potential future securities
offering, our expected revenue growth and net earnings for 2009, and any
other statements containing the words “believes”, “expects”,
“anticipates”, “plans”, “estimates” and similar expressions, are
forward-looking statements. There are a number of important factors that
could cause the company’s actual results to differ materially from those
indicated by such forward-looking statements, including our ability to
obtain FDA approval to manufacture products or product candidates in the
newly acquired facility; appropriations for BioThrax®
procurement; our ability to obtain new BioThrax® sales
contracts; our plans to pursue label expansions and improvements for
BioThrax®; our plans to expand our manufacturing facilities
and capabilities; the rate and degree of market acceptance and clinical
utility of our products; the success of our ongoing and planned
development programs, preclinical studies and clinical trials; our
ability to identify and acquire or in license products and product
candidates that satisfy our selection criteria; the potential benefits
of our existing collaboration agreements and our ability to enter into
selective additional collaboration arrangements; the timing of and our
ability to obtain and maintain regulatory approvals for our other
product candidates; our commercialization, marketing and manufacturing
capabilities and strategy; our estimates regarding expenses, future
revenue, capital requirements and needs for additional financing; and
other factors identified in the company’s Quarterly Report on Form 10-Q
for the period ended September 30, 2009 and subsequent reports filed
with the SEC. The company disclaims any intention or obligation to
update any forward-looking statements as a result of developments
occurring after the date of this press release.
Source: Emergent BioSolutions Inc.
Emergent BioSolutions Inc.
Investors Contact:
Robert G.
Burrows
Vice President, Investor Relations
301-795-1877
BurrowsR@ebsi.com
or
Media
Contact:
Tracey Schmitt
Vice President, Corporate
Communications
301-795-1800
SchmittT@ebsi.com
