April 14, 2023
Avid Bioservices has completed its expansion of two cGMP mammalian cell suites at its Myford facility, Tustin, California.
Avid announced the buildout last year. The total manufacturing cost was not disclosed but it was estimated to between $60-70 million. The expansions include upstream and downstream CGMP manufacturing services, increasing capacity for current and future mammalian cell customers, says Avid.
The biologics contract development and manufacturing organisation (CDMO) has not disclosed customer details, but it is expected the first use of the new expanded suites will take place this month.
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These expansions have come at a good time for Avid, which has reached “the largest backlog in the history of the company,” says Nick Green, CEO.
Despite the pressure the expansions put on Avid’s margins, which fell 12% in the first quarter of fiscal 2023, Avid says the buildouts have potential to generate an additional $100 million in annual revenue. On top of this, Avid’s recent additional expansion of its mammal cell process development, could generate up to an additional $25 million in annual process development revenue.
Altogether, these expansions have increased the CDMO’s mammalian capacity and Avid reports it is on track to hit its full FY2023 revenue target of $145-150 million.
Aside from Avid’s developments in mammalian cell manufacturing and processing, the company is also increasing capacity through expanding its new cell and gene therapy facility. The construction of this facility was announced in 2021 with the goal to support early-stage development through commercial manufacturing.
The viral vector facility currently has analytical and process development capabilities, and its expansion will see the development of new cGMP manufacturing suites.
Following the completion of the CGT facility buildout, estimated end of 2023, Avid predicts its total revenue generating capacity could increase up to $400 million annually.
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