Heat Biologics' Subsidiary Outlines Development of New Commercial/Biodefense Biomanufacturing Facility
$HTBX
Biotechnology: Pharmaceutical Preparations
Health Care
- Heat Biologics Inc (NYSE:HTBX) announced a planned development partnership of its Scorpion Biological Services subsidiary with a private developer, the State of Kansas, and local and university affiliates.
- The Company intends to utilize the new 500,000+ square foot facility for large molecule and biologics manufacturing, focusing on biodefense.
- In addition to servicing the Company's product pipeline, it plans to operate as a full-service Contract Development and Manufacturing Organization (CDMO) to provide third-party manufacturing services on a fee-for-service basis.
- Also Read: Heat Biologics Issues New PTX-35 Preclinical Data In Organ Transplantation, Update On HS-110.
- Once fully operational, the new facility is expected to employ more than 500 individuals.
- The facility is expected to have a billion-dollar economic impact within the State of Kansas.
- The Manhattan facility is being designed to service up to 144,000 liters across 48 bioreactors.
- Price Action: HTBX shares are up 1.07% at $2.83 during the market session on the last check Monday.