Joint venture expands global pharma services capacity for drug development and manufacturing
WALTHAM, Mass. and SHANGHAI, Nov. 6, 2020 /PRNewswire/ -- Thermo Fisher Scientific Inc. (NYSE:TMO), the world leader in serving science, and Innoforce, a bioinnovation-enabling company, today announced they have signed a joint venture agreement to establish a new pharma services facility in Hangzhou, China, for integrated biologics and steriles drug development and manufacturing. The new facility is expected to be completed in 2022.
The new state-of-the-art Good Manufacturing Practices (GMP) facility will become part of Thermo Fisher's extensive global pharma services network, which includes leading capabilities for drug product development, biologics manufacturing, sterile fill-finish, clinical trials packaging and logistics. The Hangzhou site will also incorporate stringent quality control processes that meet or exceed regulatory guidelines established by the China National Medical Products Administration (NMPA), the U.S. FDA and appropriate EMEA authorities.
"Our agreement with Innoforce will provide critical support in helping to meet the high demand for biologics in China," said Michel Lagarde, executive vice president, Thermo Fisher Scientific. "The addition of the Hangzhou site will expand our existing global network and provide drug development and manufacturing services for customers in China, as well as for global customers seeking capabilities in the region."
Innoforce CEO Yuling Li said, "To successfully bring novel therapies to market domestically and internationally, emerging biotech companies increasingly need partners with expertise in development and manufacturing and deep global regulatory knowledge. Through our partnership with Thermo Fisher, we can offer an accelerated pathway for biopharmaceutical manufacturers in China – and outside as well – to bring innovative therapies to the world."
Until the site is operational, new and existing customers can access Thermo Fisher's global biologics and steriles network, which includes sites across the U.S., Europe and Asia-Pacific, and then seamlessly transition to the new Hangzhou site after completion.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc. is the world leader in serving science, with annual revenue exceeding $25 billion. Our Mission is to enable our customers to make the world healthier, cleaner and safer. Whether our customers are accelerating life sciences research, solving complex analytical challenges, improving patient diagnostics and therapies or increasing productivity in their laboratories, we are here to support them. Our global team of more than 75,000 colleagues delivers an unrivaled combination of innovative technologies, purchasing convenience and pharmaceutical services through our industry-leading brands, including Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services and Patheon. For more information, please visit www.thermofisher.com.
About Innoforce Pharmaceuticals
Innoforce is a bioinnovation-enabling corporation located in the heart of Hangzhou Bay Biotech Valley within the Hangzhou Airport Economic Demonstration Area. The founders are global biopharmaceutical industry executives including Innoforce Chairman Dr. Guo-Liang Yu and CEO Dr. Yuling Li and the core management team has extensive international experience and expertise in technology innovation, product development and business operations. The first phase of the Innoforce campus covers 21 acres including biologic process development laboratories, scale-up and R&D labs, and manufacturing facilities for protein, cell and gene therapies. For more information, please visit www.innoforcepharma.com.
Investor Contact Information:
E-mail: [email protected]
Phone: +86 186 2136 8339
E-mail: [email protected]