DSM Announces Biologics Development and Manufacturing Agreement for Australian Facility
DSM Pharmaceutical Products, the custom manufacturing and technology business of Royal DSM, announced that it has signed a biologics contract manufacturing agreement with Paranta Biosciences Ltd of Melbourne , Australia.
The contract covers the process development and cGMP manufacture by DSM of Paranta's recombinant human protein. This project represents an agreement for DSM with an Australian customer at their Brisbane facility. Paranta Biosciences is an early stage drug development company dedicated to developing and commercializing novel biotherapeutics based on recombinant human follistatin for the treatment of respiratory diseases.
Alexander Wessels, CEO of DSM Pharmaceutical Products, stated, "Working with Paranta is an important milestone for DSM to support the local client base directly from our facility in Australia, expanding our presence in global regions. Our collaboration with Biopharmaceuticals Australia (BPA), the Queensland Government and the Australian Commonwealth Government is already bringing benefits to Australia by providing biopharmaceutical firms local support and manufacturing expertise."
Ross Barrow, CEO of Paranta Biosciences stated, "Follistatin has been shown to have great potential in treating a wide range of inflammatory and fibrotic respiratory diseases, which affect over 300 million people worldwide. Our selection of DSM as Paranta's biologics manufacturing partner is the culmination of an extensive global search process spanning more than nine months. We are looking forward to working with the Groningen and Brisbane groups of DSM Biologics as we continue the development and manufacturing scale-up of what we believe will be a truly exciting biotherapeutic."
Financial terms were not disclosed.
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