SYDNEY, Australia, Nov. 2 /Xinhua-PRNewswire-FirstCall/ -- Pharmaxis (ASX: PXS; Nasdaq: PXSL) today announced moves to expand its manufacturing capacity with the signing of an agreement for the construction of a new state of the art facility at Frenchs Forest, Sydney.
Following completion of construction in the fourth quarter of 2008, Pharmaxis may lease the 7,000 square metre manufacturing and research facility for a term of 15 years with two options to renew of five years each.
The purpose built facility will include an expanded manufacturing plant with initial capacity sufficient to supply Bronchitol to approximately 40,000 patients per year. Pharmaxis is developing Bronchitol for the treatment of diseases including cystic fibrosis, bronchiectasis and chronic bronchitis.
Construction of the key manufacturing equipment commenced in Denmark earlier in the year. In addition to manufacturing, the facility will house the commercial, clinical and administration functions of the company as well as the drug discovery group which is currently located at North Ryde.
The premises will provide further opportunities to expand initial capacity in a modular fashion.
Pharmaxis (ACN 082 811 630) is a pharmaceutical company involved in the research, development and commercialization of therapeutic products for chronic respiratory and immune disorders. Its development pipeline of products include: Aridol for the management of asthma, Bronchitol for cystic fibrosis, bronchiectasis and chronic obstructive pulmonary disease (COPD) and PXS64 for the treatment of multiple sclerosis.
Founded in 1998, Pharmaxis is listed on the Australian Stock Exchange
(symbol PXS), and on NASDAQ Global Market (symbol PXSL). The company is
headquartered in Sydney at its TGA-approved manufacturing facilities. For
more information about Pharmaxis, go to http://www.pharmaxis.com.au or con
|SOURCE Pharmaxis Ltd|
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