Monday, Angel Biotechnology Holdings Plc (ABH.L), the biopharmaceutical contract manufacturer, announced the signing of a fourth GMP Manufacturing contract with Materia Medica Holding, a pharmaceutical company in Russia. The contract, valued at circa £1.2 million, is for process development and GMP manufacture of specific antibodies. Over 90% of the value this contract will be invoiced over the next 18 months, the company said.
"Our relationship with Materia Medica continues to grow with the award of this fourth GMP manufacturing contract. We have now been working with Materia Medica for over two years and in that time have worked closely with Materia Medica and the Medicines and Health care products Regulatory Agency or MHRA to forge a clear regulatory path for it's products. Angel has to date contracted work with Materia Medica to a total value of circa £4 million. This is a clear reflection of Materia Medica's confidence in Angel's manufacturing and regulatory capabilities in the advanced biologics arena. We look forward to further contracts in the future to deliver Materia Medica's pipeline of EU licensed products," said Gordon Sherriff, Angel's chief operating officer.
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