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Therapure Awarded $4.2 Million BIP Grant from the Ontario Government
Date:4/29/2010

Therapure Biopharma Inc. today announced that it has been awarded a $4.2 million grant from the Ontario Ministry of Research and Innovation’s Biopharmaceutical Investment Program (BIP). Therapure will utilize the funding to support a $27.9 million expansion of its bio-manufacturing facility in Mississauga, Ontario, Canada.

Toronto, ON (Vocus) April 30, 2010 -- Therapure Biopharma Inc. today announced that it has been awarded a $4.2 million grant from the Ontario Ministry of Research and Innovation’s Biopharmaceutical Investment Program (BIP). Therapure will utilize the funding to support a $27.9 million expansion of its bio-manufacturing facility in Mississauga, Ontario, Canada.

"We are thrilled that the government of Ontario has recognized the strength and potential of Therapure’s resources and talented people with this investment, which will help position our company and Ontario to be an international leader in bio-manufacturing and biosimilars," said Thomas Wellner, President and CEO of Therapure. "The support that we are receiving from the Ontario government will help enhance our state-of-the-art facility in Mississauga and improve Therapure’s ability to partner with the biopharmaceutical sector to bring new protein-based therapies to the patient."

"Ontario is investing strategically to help innovative companies to compete in emerging markets where Ontario can be a global leader," said John Milloy, Minister of Research and Innovation. "Today’s investment builds Ontario’s research strength and creates jobs and a healthier future for our families."

"Mississauga is proud to be home to a world-class biopharmaceutical company such as Therapure, and I would like to congratulate Tom Wellner and his colleagues at Therapure on receiving this grant," added Mayor Hazel McCallion of Mississauga. “Having visited their facility, I was pleased to support Therapure’s BIP application, and I look forward to the company’s continued growth. Therapure brings high value added employment to our community, and is gaining a well-deserved reputation as a centre for biopharmaceutical research, development and manufacturing."

About Therapure Biopharma Inc.:
Therapure Biopharma Inc. is an integrated biopharmaceutical company that develops, manufactures, purifies and packages therapeutic proteins and biosimilars. As a contract development and manufacturing organization (CDMO), Therapure Biopharma applies scientific, manufacturing, and downstream purification expertise with an intimate understanding of advanced biology, complex proteins, and regulatory processes to develop effective and innovative solutions to advance products from discovery to market for its clients. Therapure’s Health Canada-licensed 130,000 sq. ft. facility includes manufacturing, research and quality-control laboratories and a cGMP warehouse, and is built to U.S. FDA, EMEA, MHRA and Health Canada standards for the aseptic handling and purification of proteins.

For more information, please visit: www.therapurebio.com

Company Contact:
Thomas Wellner, President and CEO
Therapure Biopharma Inc.
+1 905 286-6204
ceo(at)therapurebio(dot)com

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Read the full story at http://www.prweb.com/releases/2010/04/prweb3943064.htm.


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