Navigation Links
Therapeutic Proteins Inc. Completes First Independent, Dedicated Biosimilars Manufacturing Facility in U.S.
Date:4/22/2010

Company To Produce Ingredients for Follow-on Biologics in Chicago.

Chicago (Vocus) April 22, 2010 -- Therapeutic Proteins Inc. (TPI) today announced the completion of the nation’s first independent, dedicated, follow-on biologics (or biosimilars) manufacturing facility constructed to meet U.S. Food and Drug Administration (FDA) requirements. The Chicago facility is located at University Technology Park at IIT (Illinois Institute of Technology).

Therapeutic Proteins Inc. has developed several off-patent biological drugs (recombinant proteins) used as life-saving therapies and which comprise a significant part of the total biological drugs market of around $40B. TPI only produces the therapeutic proteins as active pharmaceutical ingredients (API) for pharmaceutical manufacturers to formulate, package and sell these products to consumers. With the completion of the company’s new manufacturing facility in the U.S., TPI will be able to produce FDA-regulated API’s domestically, which goes against the trend of outsourcing manufacturing to other countries.

“We anticipate exporting bulk API in the fourth quarter of this year, and we will submit BLAs (biological license applications) to the FDA for new products once the agency establishes guidelines for biosimilars,” said Thomas L. Flynn III, CEO of Therapeutic Proteins. “The newly enacted healthcare bill directs the FDA to establish a regulatory framework for the marketing authorization of follow-on biologics.”

TPI currently has 13 employees, and the company expects to create more than two dozen new high-tech jobs in Chicago by January 2011.

“Keeping TPI in Illinois is a real win for the state’s emerging biotechnology industry,” said Warren Ribley, director of the Illinois Department of Commerce and Economic Opportunity (DCEO). “The State’s initial capital investments in UTP helped attract IIT’s developer partner, Wexford Science + Technology, LLC, who sealed the deal with TPI.”

”We are thrilled to have TPI as an anchor tenant as their business and operations acumen will be very beneficial for the developing and emerging biotech companies not only at the UTP at IIT, but also for Chicago and the Midwest,” said David Baker, Executive Director, University Technology Park. “It shows the world that Chicago is a developing hub for life-improving therapeutic agents that will serve to lower health care costs and improve the lives of many in need.”

The completion of the first independent, follow-on biologics API manufacturing plant in the U.S. is another important step toward lowering the nation’s health care costs. Several studies over the past three years have indicated that cost-savings realized from biosimilars could reach tens of billions of dollars, perhaps even surpassing $100 billion, over a 10-year period.

“The use of follow-on biologics, or biosimilars, will contribute to the Medicare savings outlined in the health reform bill signed into law by President Obama,” Flynn said. “We look forward to using our proprietary technology in our new Chicago facility to help bring biologic-based therapies to more patients in the U.S. and around the world.”

About Therapeutic Proteins Inc.
Therapeutic Proteins Inc. (TPI) has developed a proprietary processes to manufacture recombinant proteins at the lowest possible cost; the technology involved patented bioreactors and deployment of the world’s first totally single-use systems to manufacture drugs, using CHO and E. Coli. TPI has developed several products, including TheraPoietin®, TheraGastrim®, and TheraFeron®, and has additional biologics in its new product pipeline. TPI offers its API for sale as well as for licensing on an exclusive basis to its worldwide clients. For more information, visit http://www.theraproteins.com.

About University Technology Park at IIT (UTP)
The University Technology Park at IIT (UTP) is home to more than 20 emerging technology-based companies and the Illinois Institute of Technology’s Pritzker Institute for Biomedical Science + Engineering. Launched in 2006, UTP's mission is to move innovation forward by providing quality flexible lab and office space for technology companies at every stage of their growth, and by offering tenants the resources of IIT and the community. The park's four-building complex includes the Technology Business Center (TBC), a technology incubator, a 19-story office tower, and the IIT Research Institute. For more information, visit http://www.universitytechnologypark.com.

About Wexford Science & Technology, LLC
Wexford Science & Technology, LLC (http://wexfordequities.com) is a privately held real estate investment and development company that delivers the real estate solution for science, technology, and healthcare based organizations. Headquartered in Baltimore, Wexford Science & Technology has projects in the contiguous United States with the University of Maryland, Baltimore, The Science Center (Philadelphia), Illinois Institute of Technology, Old Dominion University, the Hershey Center for Applied Research (Hershey Trust) , the University of Miami, and Wake Forest University.

For more information, contact:
Catherine E. Vorwald
Director, Business Development
Wexford Science + Technology, LLC
(443) 844-4172
cvorwald(at)wexfordequities(dot)com

Thomas L. Flynn III
Chief Executive Officer
Therapeutic Proteins Inc.
(847) 205-7800
thomas(dot)flynn(at)theraproteins(dot)com

###

Read the full story at http://www.prweb.com/releases/technology/park/prweb3909424.htm.


'/>"/>
Source: PRWeb
Copyright©2010 Vocus, Inc.
All rights reserved

Related biology technology :

1. Live Webinar: Paperless QC Micro Implemented by Talecris Biotherapeutics
2. invivodata Delivers Critical Symptom Relief Data in INSYS Therapeutics' Breakthrough Cancer Pain Trial
3. Michael J. Fox Foundation Offers High-Quality LRRK2 Antibodies for PD Therapeutic Development
4. Viron reports positive proof of concept results in arthritis for its VT-346 anti-TNF therapeutic
5. Cornerstone Therapeutics Reports Fourth Quarter and Full Year 2009 Financial Results
6. Foamix Ltd. and Therapeutics Inc. Enter Into Joint Venture to Develop New Prescription Foams for Inflammatory Skin Diseases - Will Target Over 20 Million Psoriasis and Atopic Dermatitis Patients
7. Sunlight Research(TM), Releases its Osiris Therapeutics Stem Cell Patent Report
8. Fate Therapeutics Named One of the 50 Most Innovative Companies in the World by MITs Technology Review
9. Amsterdam Molecular Therapeutics Reports Full Year Results 2009
10. Ocera Therapeutics Completes Phase 2B Enrollment in the ASTUTE Trial
11. Cornerstone Therapeutics to Host Fourth Quarter and Full-Year 2009 Conference Call
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/16/2017)... , Feb. 16, 2017  MDNA Life ... the development of liquid biopsy tests based on ... into an exclusive license agreement with its first ... proprietary liquid biopsy test for prostate cancer, the ... Korea . This is the first overseas ...
(Date:2/16/2017)... Research and Markets has announced the addition ... to their offering. ... The study scope includes ... chassis organisms, synthetic cells, production systems), enabling technologies (DNA ... specialty media) and enabled technologies (biofuels, chemicals, pharmaceuticals, agriculture) ...
(Date:2/16/2017)... Mass. , Feb. 16, 2017   Biostage, ... the "Company"), a biotechnology company developing bioengineered organ implants ... esophagus, bronchus and trachea, announced today the closing on ... of 20,000,000 shares of common stock and warrants to ... proceeds of $8.0 million. The offering was priced at ...
(Date:2/16/2017)... 16, 2017 UCHealth ( Aurora, Colorado ... for pulmonary nodule patient management. In addition to optimizing ... spot on the lung, UCHealth looks to improve provider ... entry. Stephanie Brown, RN , Thoracic ... patients with an Excel spreadsheet, which was extremely arduous ...
Breaking Biology Technology:
(Date:1/26/2017)... , Jan. 26, 2017  Acuity Market Intelligence ... Biometrics and Digital Identity".  Acuity characterizes 2017 as ... when increased adoption reflects a new understanding of ... "Biometrics and digital identity are often perceived ... Maxine Most , Principal of Acuity Market intelligence. ...
(Date:1/24/2017)... YORK , Jan. 24, 2017 ... study of the laboratory use of nuclear magnetic ... 363 experienced end-users and profiled current practices, developments, ... years, as well as growth and opportunities. These ... Instrument suppliers, NMR instruments, needs and innovation requirements, ...
(Date:1/23/2017)... latest mobile market research from Acuity Market Intelligence reveals ... average price of a biometric smartphone decreased from $849 ... are now 120 sub-$150 models on the market at ... a year ago at an average price of $127. ... Acuity Market Intelligence Principal, "Biometric Smartphones are a global ...
Breaking Biology News(10 mins):