LAVAL, Que. – ProMetic Life Sciences Inc. (TSX:PLI) says it has a new 15-year agreement for a Winnipeg manufacturing plant to process medical plasma using the company’s proprietary purification method.
The work will be done at a Emergent BioSolutions facility with the capacity to process up to 250,000 litres of plasma annually.
ProMetic says the agreement gives it manufacturing flexibility and will allow it to accelerate its clinical and regulatory activities and contribute to faster revenue growth.
It will initially pay a minimum of $4 million per year, rising to $7 million per year in 2018 and $9 million per year by 2021.
The company, based in Laval, Que., will begin transferring its technology and manufacturing processes to the Emergent plant in July and scale up output over time.
“This is a very synergistic and complementary addition to our Laval facility,” said Bruce Pritchard, ProMetic’s chief operating officer.
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