Therapure Receives $20 Million from FedDev Ontario’s Advanced Manufacturing Fund
MISSISSAUGA, ONTARIO, CANADA (July 23rd, 2015) – Therapure Biopharma Inc. is delighted to announce that it is the recipient of a $20 million contribution under the Federal Economic Development Agency for Southern Ontario’s Advanced Manufacturing Fund (AMF). Minister Gary Goodyear and MP Brad Butt announced the news at Therapure’s Meadowpine manufacturing facility in Mississauga.
The Fund was created to support the development of transformative technologies by Ontario manufacturers and allow them to compete with the rest of the world. Therapure is a leading manufacturer of biologics for medical use with particular expertise in plasma-derived proteins. Leveraging this expertise, Therapure has developed a proprietary technology called PlasmaCap Expanded Bed Adsorption (PlasmaCap EBA™), which yields more protein from the same amount of plasma, and separates the proteins faster, and at lower cost than existing processes used worldwide. The support from the AMF will allow Therapure to quickly advance a new technology for manufacturing plasma proteins. As a result of this exciting research, development and manufacturing opportunity, approximately 91 new highly skilled and well-paying jobs will be created at its Mississauga facility.
“When the federal government created the AMF, it’s as if they had Therapure in mind. They define advanced manufacturers as having a commitment to product, process and technological innovation—we live these values every day as part of our assurance to the clients of Therapure Biomanufacturing, our contract manufacturing and development division. I would like to thank our employees for their ongoing passion and commitment making our success possible” says Nick Green, president and CEO of Therapure.
“Therapure Biopharma Inc. stands as an inspirational example of Canadian entrepreneurship and innovation,” says Gary Goodyear, Minister of State for FedDev Ontario. “The Government of Canada is proud to support the successful technologies Therapure is developing – technologies that will provide important new options for patient care and contribute to an already thriving Ontario manufacturing sector.”
“This investment, for which we thank the Government of Canada, will help us expand our scope and accelerate our growth in the plasma proteins industry. This expansion was a natural progression for Therapure after having established ourselves as a successful contract manufacturer of complicated biologics with additional expertise in plasma-derived proteins. We believe that our PlasmaCap EBA™ technology delivers the highest yields in the industry and will allow us to produce safe, quality, life-changing products for patients" added Green.
ABOUT THERAPURE BIOPHARMA INC.
Therapure Biopharma Inc. is an integrated biopharmaceutical company focused on complex biological therapeutics and technologies that can provide new options for patient care. It currently includes Therapure Biomanufacturing, the award-winning CDMO division, Therapure Innovations, the proprietary drug pipeline and platform technology research and development division, as well as the PlasmaCap EBA™ technology. Therapure Biopharma Inc.'s 130,000 sq. ft. cGMP facility includes biomanufacturing, research and quality-control laboratories and is built to meet FDA (USA), HPFB (Canada), EMA (Europe) and MHRA (UK) standards.
Visit www.therapurebio.com for more information on Therapure Biopharma Inc.
ABOUT THE ADVANCED MANUFACTURING FUND (AMF)
The Advanced Manufacturing Fund (AMF) is a $200-million fund delivered province-wide by the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). AMF supports the development of cutting-edge technologies and large-scale transformative activities that will improve processes, increase productivity and benefit clusters or global supply chains.
ABOUT PLASMACAP EBA™
PlasmaCap EBA is an innovative technology for efficient capture of plasma proteins at high yields and purities. PlasmaCap EBA uses proprietary affinity adsorbents in expanded bed adsorption (EBA) chromatography to capture plasma proteins directly from plasma or fractionated plasma materials. Through substantial development efforts, PlasmaCap EBA has been able to achieve significant capture yields for major plasma proteins of value.
Visit www.plasmacap.com for more information.
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