The contract covers the process development and cGMP manufacture by DSM of Paranta's lead recombinant human protein. This project represents an agreement for DSM with an Australian customer at their Brisbane facility. Paranta Biosciences is an early stage drug development company dedicated to developing and commercializing novel biotherapeutics based on recombinant human follistatin for the treatment of respiratory diseases.
Alexander Wessels, CEO of DSM Pharmaceutical Products, stated, "Working with Paranta is an important milestone for DSM to support the local client base directly from our facility in Australia, expanding our presence in global regions. Our collaboration with Biopharmaceuticals Australia (BPA), the Queensland Government and the Australian Commonwealth Government is already bringing benefits to Australia by providing biopharmaceutical firms local support and manufacturing expertise."
Ross Barrow, CEO of Paranta Biosciences stated, "Follistatin has been shown to have great potential in treating a wide range of inflammatory and fibrotic respiratory diseases, which affect over 300 million people worldwide. Our selection of DSM as Paranta's biologics manufacturing partner is the culmination of an extensive global search process spanning more than nine months. We are looking forward to working with the Groningen and Brisbane groups of DSM Biologics as we continue the development and manufacturing scale-up of what we believe will be a truly exciting biotherapeutic."
Karen King, President of DSM Biologics, the business unit of DSM Pharmaceutical Products operating the Brisbane site, commented "We are proud to announce that Paranta has selected DSM as its manufacturing and development provider. DSM will bring over 25 years of experience, a state-of-the-art facility and an expert team in Brisbane to help drive the success of Paranta's lead project." In addition to an R&D and manufacturing site in Groningen, The Netherlands, DSM is building operations in Brisbane, Australia, with the support of the Governments of Queensland and the Commonwealth. The Brisbane facility is DSM's blueprint for its 'biologics plant of the future' for the production of biopharmaceuticals.
"For Biopharmaceuticals Australia, DSM's signing-up Paranta for the new facility represents a key endorsement of the wisdom of the public sector investment in the project." said CEO, David Hughes. "The Paranta contract is an important step in ensuring that more of the drug development value chain is retained locally". BPA, an industry-development company owned by the Queensland State Government, put together the partnering deal with DSM, and is currently project managing the final stages of the construction of the new state-of-the-art facility in cooperation with DSM Biologics."
Financial terms were not disclosed.