Readers are referred to the cautionary notes regarding
Forward-looking Information at the end of this release
Listed TSX, Symbol: CNJ
BALTIMORE AND WINNIPEG, May 2 /PRNewswire/ - Cangene Corporation's Baltimore-based injectable pharmaceutical contract-manufacturing subsidiary, Cangene bioPharma, Inc., has completed a US$11-million renovation of its sterile filling and support facility. The renovation adds a second production freeze-dryer and significantly increases overall throughput capacity. In addition, the renovation allowed facility upgrades in response to evolving requirements of U.S., Canadian, European and other national and regional regulatory agencies covering the more than 40 countries in which vials and pre-filled syringes of drugs filled by Cangene bioPharma are sold. Cangene bioPharma produces finished units of commercial drugs for a variety of customers ranging from small pharmaceutical companies to major multinationals. In addition, three investigational products it currently fills are expected to receive commercial approvals during this calendar year.
"The renovated facility is fully validated and operating at expanded capacity. We see increasing opportunities arising from the elimination of fill capacity by many pharmaceutical companies during the economic downturn. With this and our continued success in helping current clients move from clinical trials to FDA approval, Cangene bioPharma and our parent, Cangene Corporation, have moved aggressively to invest in the future growth of our business. We anticipate growth through expanded sales of the commercial products we currently produce for clients as well as from new clinical trial and commercial work as other companies increasingly outsource their manufacturing," said Dr. Vicki Wolff-Long, general manager of Cangene bioPharma.
About Cangene bioPharma, Inc.
Cangene bioPharma is a wholly-owned subsidiary of Cangene Corporation. Formerly known as Chesapeake Biological Laboratories, Inc., it is a commercial contract manufacturer, providing fill/finishing services to pharmaceutical and biotechnology companies. It provides aseptic filling for liquid and lyophilized products in vials and syringes. Cangene bioPharma has contributed to the development and production of more than 185 clinical products since 1990. It has been inspected and approved by regulatory agencies in the U.S., the European Union and Japan.
About Cangene Corporation
Cangene is one of Canada's largest and earliest biopharmaceutical companies. It was founded in 1984 and is headquartered in Winnipeg, Manitoba. Cangene has approximately 700 employees in six locations across North America and its products are sold worldwide. It operates manufacturing facilities in Winnipeg, Manitoba and Baltimore, Maryland. Cangene operates three U.S. and one Canadian plasma-collection facilities branded as Cangene Plasma Resources (www.cangeneplasma.com). In addition, it has a regulatory affairs, sales and corporate communications office in Toronto, Ontario.
Cangene is focused on developing therapeutics for infectious diseases, and the Company uses patented manufacturing processes to produce plasma-derived and recombinant therapeutic proteins. Cangene has four FDA and/or Health Canada-approved hyperimmune products. In addition, the Company has several more products in development at various stages. Three of Cangene's products have been accepted into the U.S. Strategic National Stockpile—botulism antitoxin (investigational product), anthrax immune globulin (investigational product) and a vaccinia immune globulin, a product that may be used to counteract certain complications that may arise from smallpox vaccination. Cangene's wholly-owned subsidiary, Cangene bioPharma, Inc., is based in Baltimore, Maryland and includes its U.S. commercial sales and marketing office as well as a significant contract-manufacturing business (www.cangenebiopharma.com). Cangene's website, www.cangene.com, includes product and investor information, including past news releases.
Forward-looking and risk information
The reader should be aware that Cangene's businesses are subject to risks and uncertainties that cannot be predicted or quantified; consequently, actual results may differ materially from past results and those expressed or implied by any forward-looking statements. Factors that could cause or contribute to such risks or uncertainties include, but are not limited to: the regulatory environment including the difficulty of predicting regulatory outcomes; changes in the value of the Canadian dollar; the Company's reliance on a small number of customers including government organizations; the demand for new products and the impact of competitive products, service and pricing; availability and cost of raw materials, especially the cost, availability and antibody concentration in plasma; fluctuations in operating results; government policies or actions; progress and cost of clinical trials; reliance on key strategic relationships; costs and possible development delays resulting from use of legal, regulatory or legislative strategies by the Company's competitors; uncertainty related to intellectual property protection and potential costs associated with its defence; the Company's exposure to lawsuits; and other matters beyond control of management. Risks and uncertainties are discussed more extensively in the MD&A section of the Company's most recent annual report and annual information form, which are available on the Company's website or on SEDAR at www.sedar.com.
The preceding cautionary statements should be considered in connection with all written or oral statements, especially forward-looking statements, that are made by the Company or by persons acting on its behalf and in conjunction with its periodic filings with Securities Commissions, including those contained in the Company's news releases and most recently filed annual information form. Forward-looking statements can be identified by the use of words such as "expects", "plans", "will", "believes", "estimates", "anticipates", "intends", "may", "bodes" and other words of similar meaning (including negative and grammatical variations). Should known or unknown risks or uncertainties materialize, or should management's assumptions prove inaccurate, actual results could vary materially from those anticipated. The Company undertakes no obligation to publicly make or update any forward-looking statements, except as required by applicable law.
"Cangene" is a trademark belonging to Cangene Corporation.
SOURCE Cangene Corporation