Navigation Links
Laureate Pharma Secures $20 Million to Enhance and Grow Biopharmaceutical Contract Manufacturing Business

PRINCETON, N.J., Oct. 6 /PRNewswire/ -- Laureate Pharma, Inc., a full-service contract development and manufacturing organization today announced that it has secured $20 million in debt and equity financing to enhance and grow its business.  

Building on nearly 30 years of experience in the development and supply of protein drug products produced from mammalian cell culture, Laureate Pharma will be able to better serve its clients by accelerating their timelines from development through production.

"Today marks a significant milestone in our efforts to relaunch Laureate Pharma," said Michael A. Griffith, Chief Executive Officer.  "Our strategically planned improvements coupled with our solid financial footing will position us for exceptional growth."

Mr. Griffith continued, "As we transform Laureate, care will be taken to maintain continuity of client services.  Quality Assurance will oversee investment activities to ensure our offerings comply with the strict demands of global regulatory agencies."

The new funds will be used to drive five investment initiatives over a three-year period and will provide a more robust portfolio of services to better serve customers' needs and include:

  • Upgrading  aseptic fill capabilities through the construction of a new segregated fill suite and the installation of a new fully-automated fill line incorporating vial washing, depyrogenation, filling, and capping.  All product contact pathways of the new line will be single-use disposable. Commissioning is planned for early 2012.
  • Upgrading protein production services to increase bioreactor (2000L) and purification (10L chromatography skid) capacity, new gowning rooms, renovated purification suites and additional support utilities.
  • Launching a contract analytical testing business to serve a broader client base including clients who do not require other Laureate services.  Laureate will enhance sample management procedures, upgrade and add new instrumentation to offer a full range of testing required to characterize protein products.  
  • Expanding mammalian cell line creation services; in 2011, Laureate will offer access to a variety of protein expression systems that can be selected based on the specific characteristics and requirements of the protein product.   Additionally, the Company plans to add cGMP cell banking services.
  • Adopting new quality systems technologies including new systems to manage inventory, deviations, and calibration and validation.  In addition, the Company will acquire a new software solution that will enable it to assemble documentation for clients in an eCTD format.  Finally, Laureate will expand its regulatory affairs unit to assist clients in the preparation of data summaries, batch reports and regulatory submissions.

Laureate Pharma has added 10 new jobs since bringing on a new CEO and a new Vice President of Business Development and plans to fill 50 more positions when working at capacity.

About Laureate Pharma

Laureate Pharma is a full-service biopharmaceutical contract development and manufacturing organization.  Laureate's scientists are expert in process development and cGMP production of therapeutic proteins including monoclonal antibodies and Fc-fusion proteins.  In addition, the company's portfolio of services includes aseptic filling, cell line development, analytical and stability testing, and regulatory support.  Laureate has served a global client base from its Princeton, New Jersey facility since 1981 and is a portfolio company of Saints Capital, LLC.

About Saints Capital, LLC

Saints Capital is a leading direct secondary acquirer of venture capital and private equity investments in emerging growth companies around the globe. It also makes traditional direct venture capital investments on a primary basis and in special situations in technology, healthcare, consumer and industrial companies in the United States. Founded in 2000, Saints provides liquidity for private investors in such markets as investment and commercial banks, buyouts, corporate venture capital and hedge funds. Saints has more than $1 billion of committed capital under management, over 50 completed portfolio transactions and investments in more than 200 companies. For more information, please visit

For more information, contact: Imara Charles, Ph.D., Director of Project Management, Laureate Pharma, at (609) 919-3367, or or visit or Jennifer Vollaro at Integrated Marketing Services at (609) 683.9055 ext. 247, or

SOURCE Laureate Pharma, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Laureate Pharma Appoints Steven R. Johnson as Vice President, Business Development
2. Thomson Reuters Predicts Nobel Laureates
3. Laureate Pharma Announces Signing New Biopharmaceutical Development & Manufacturing Agreement
4. Nobel Laureate Dr. Gunter Blobel to Speak at Florida Atlantic University
5. AstraZeneca and the Sacramento County Pharmacy Provide Free Medicines to Eligible California Patients
6. Lotus Pharmaceuticals Retains Sichenzia Ross Friedman Ference LLP as General Legal Counsel
7. ISTA Pharmaceuticals Reports Positive Preliminary Results from its Phase 1/2 Clinical Study of Bepotastine Besilate Nasal Spray for the Treatment of Symptoms Associated with Seasonal Allergic Rhinitis
8. Nautilus Neurosciences and Mission Pharmacal Announce Exclusive Co-Promotion Agreement for CAMBIA™ (diclofenac potassium for oral solution) for the Acute Treatment of Migraine to the Womens Health Market
9. Reportlinker Adds US Pharmaceutical Market Overview - Healthcare reform, economic pressures and the patent cliff set to impact Pharma
10. Octapharma USA Launches Web Resource for von Willebrand Disease Healthcare Professionals and Patients
11. MAP Pharmaceuticals Announces Exercise of Over-Allotment Option and Closing of Underwritten Offering of Common Stock
Post Your Comments:
(Date:11/30/2015)... and ST. LOUIS , Nov. ... (NASDAQ: ESRX ) today announced an early renewal ... which began in 1999, will now extend through at ... --> After evaluating pharmacy benefit manager capabilities during ... Express Scripts continues to offer the best health plan ...
(Date:11/30/2015)... Nov. 30, 2015 NHS Supply Chain ... TrueBeam™ machines from Varian Medical Systems (NYSE: ... to replace older machines and institute modern radiotherapy ... public hospitals. The order, placed in September, also ... for Varian,s RapidArc® and Eclipse™ software systems.    ...
(Date:11/30/2015)... , Nov. 30, 2015  Novartis will demonstrate the ... 57 th American Society of Hematology (ASH) Annual ... myelomas as well as supportive care, including key findings ... personalized cell therapies. The ASH Annual Meeting will be ... . Novartis Oncology . "We will be ...
Breaking Medicine Technology:
(Date:11/30/2015)... ... November 30, 2015 , ... The Foundation for Breast and ... prevention—is joining forces with the award-winning creator and writer of Downton Abbey Julian ... 2015 at the Union League of Philadelphia. , The benefit, titled “An ...
(Date:11/30/2015)... ... 2015 , ... Brenntag Specialties, Inc. (BSI) has been appointed ... Specialties products into oral solid dosage in the over the counter vitamin and ... to announce our expanded distribution agreement with ASI.” said Steve Brauer, President of ...
(Date:11/30/2015)... Rosa, Calif. (PRWEB) , ... November 30, 2015 ... ... Management and Analytics for the last 15 years, announced today that Michigan-based Family ... A provider of care for over 45 years, FHC was awarded the largest ...
(Date:11/30/2015)... ... November 30, 2015 , ... An inventor from Charlottesville, Va., is concerned about ... baby had high blood pressure due to loud noises," she said, "so I decided ... noise pollution as well as radio waves and microwaves." , The baby BABY MUFF ...
(Date:11/30/2015)... ... November 30, 2015 , ... In an interview with Andy Mitchell ... top ophthalmologist on Long Island’s east end. During the broadcast, entitled “Eyes: the Window ... treatment of glaucoma and cataracts, and how a visit with his grandmother to her ...
Breaking Medicine News(10 mins):