ALBUQUERQUE, New Mexico, USA (May 17, 2016) – PaizaBio, Inc., has secured an agreement with Taiwan-based JHL Biotech, Inc. (Stock Code: 6540.TWO) to provide fill-finish services for multiple JHL projects. New Mexico-based PaizaBio will provide these services to JHL through its Hangzhou, China-based strategic partner, Ausia BioTech.
The agreement is the first between JHL Biotech, which has deep experience in global pharmaceutical development and manufacturing, and PaizaBio, which provides immediate access to China’s rapidly growing drug market via in-country contract manufacturing of sterile injectables. Per terms of the agreement, PaizaBio will aseptically fill-and-finish compounds into injectable formulations for clinical trial applications. The compounds are molecular entities targeting both oncology and immunological therapies.
Commenting on the announcement, PaizaBio Founder and CEO Stuart Rose said, “We are pleased to partner with JHL Biotech, a company with growing global stature in drug development and commercialization. Combining the strengths of our two companies will accelerate clinical trial qualifications and ultimately commercialization of promising new biological-based injectable drugs in China and around the world. Our annual capacity in Hangzhou can easily accommodate the immediate, large and medium-scale need of clients like JHL Biotech.”
JHL Biotech CEO Racho Jordanov commented that JHL is excited to work with PaizaBio. “We realize that the cost of development often makes innovative medicines, particularly biopharmaceuticals, unaffordable to large groups of people. We are committed to delivering life-changing and life-saving treatments at affordable prices. Working with PaizaBio and its strategic partner Ausia BioTech, we will be able to produce injectable biological-based drugs of the highest quality for our clinical trials in a highly cost sensitive manner. Lower drug development costs support more innovation and greater accessibility to patients.”
The contract manufacturing services provided by PaizaBio will involve close collaboration between the companies. JHL Biotech will supply PaizaBio with active biological ingredients produced at its manufacturing facility in Wuhan, China. PaizaBio will provide contract fill-and-finish services and will cold-ship the material to JHL Biotech for use in clinical trials.