Response Biomedical Corporation Moves to Ne...( VANCOUVER March 20 / Response Bio...),Health
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Response Biomedical Corporation Moves to New Facility
Date:3/20/2008
VANCOUVER, March 20 /PRNewswire-FirstCall/ - Response Biomedical Corporation (TSX: RBM, OTCBB: RPBIF) today announced that it plans to move to its new state-of-the-art global headquarters located at 1781 - 75th Avenue West, Vancouver, British Columbia on March 31, 2008.
The 46,000 square foot single-occupant specialized use facility was specifically designed and constructed for development and GMP manufacturing and distribution of point-of-care (POC) medical diagnostic test kits. Response Biomedical designs, develops, manufactures and distributes rapid POC tests for use with its portable RAMP(R) platform for clinical and environmental applications. The new facility should allow manufacturing scale-up from approximately 500,000 tests currently manufactured per year to four million tests per year by mid-2008, based on partner demand. In this new facility, the Company believes it can eventually escalate test-manufacturing capacity to over 15 million tests per year.
"We are very pleased to be moving to our new home," said S. Wayne Kay, Chief Executive Officer. "This new facility is expected to meet the demands of our current partners, 3M Company and Shionogi & Co. of Japan, as well as the projected demands of our planned cardiovascular partner."
The new facility features multiple specialized laboratories with environmental controls and monitoring systems required for product development, manufacturing and distribution in compliance with requirements established by global organizations such as the International Organization for Standardization (ISO) and individual regulatory authorities such as the U.S. Food and Drug Administration (FDA), Health Canada and the Ministry of Health, Labor and Welfare in Japan.
The Company announced in May 2007 that it had entered into a long-term
agreement with Alexandria Real Estate Equities, Inc. to lease the
single-tenant facility. Initial capital modifications to the facility were
financed by Alexandri
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