Olympus Biotech Announces Reduced Sale Price For New Hampshire Biopharmaceutical Manufacturing Facility

LEBANON, N.H., March 3, 2014 /PRNewswire/ -- Olympus Biotech today announced the initiation of an aggressive transaction process to find a buyer of its West Lebanon, NH manufacturing facility over the next 90 days. In recent months, the Company has received interest from buyers and contract manufacturing organization (CMO) partners, but no deal has been consummated yet.

"We feel that this is an opportunity for a biotech or pharmaceutical company to acquire a world class site at a small fraction of the replacement cost.  The value for the manufacturing plant and related assets has been reduced to a nominal value," said Peter Gariepy, VP of Operations and Plant Manager. "We have written down the facility and are pursuing an aggressive sales process to showcase this attractive offer to the Life Sciences industry."

The facility has an extensive history of manufacturing mammalian cell based products for the biopharmaceutical industry and has a successful track record in producing both clinical and commercial bulk product. The facility is cGMP certified by several health authorities and has an excellent inspection record. Nearly 130 facility personnel have expertise in manufacturing and facility operations, engineering, development, quality assurance, quality control, validation, and operational excellence. 

As an 180,000 sq. ft. manufacturing plant with expansion space and land for additional needs, the plant houses two mammalian cell culture suites with fixed and single use platforms as well as an area dedicated to process development activity. Each suite offers independent cell culture equipment trains and dedicated areas for product recovery and purification. Downstream areas can support an array of column chromatography and filtration processes including affinity, ion exchange, hydrophobic interaction, gel filtration, ultrafiltration, and diafiltration. Clinical aseptic fill capacity was recently introduced at the site using barrier isolator technology. Robust utility systems support 24/7 operations across all manufacturing and support functions.

To see a video tour of the facility please visit: http://www.olympusbiotechcmo.com/index.php/gmp-contract-manufacturing/our-facility

For technical information, please contact Sean McKee at PharmaBioSource at (484) 686-0123.

About Olympus Biotech Corporation
Olympus Biotech was established in December, 2010 as a wholly owned company of Olympus Corporation of the Americas. The vision of Olympus Biotech is to improve the patient Quality of Life by developing and distributing Regenerative Medicines that stimulate the intrinsic healing capacity in the living body by the technological development of growth factors and biomaterials.

About Olympus
Based in Tokyo, Olympus is a global precision technology leader, designing and delivering innovative solutions in its core business areas:

• Medical and Surgical Products: Gastrointestinal endoscopy, minimally invasive surgical products, and accessories
• Life Science Imaging Systems: Advanced research, clinical/educational microscopes, and research/educational digital imaging systems
• Industrial Measurement and Imaging Instruments: Industrial research, engineering, test, inspection and measuring instruments
• Cameras and Audio Products: Digital cameras and voice recorders

Through this technology, Olympus focuses on enhancing people's lives every day and helping people enjoy the continuum of life. 

SOURCE Olympus Biotech