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

icago 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 p
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