Icosagen: EIB loan to support CDMO’s mammalian plant buildout

The European Investment Bank has awarded Estonian CDMO Icosagen €18 million ($19 million), supporting the financing of a 1,600 m² production facility.

The €18 million will form part of a total of €40 million being invested into contract development and manufacturing organization (CDMO) Icosagen’s R&D capabilities and a clinical-scale good manufacturing practice (GMP) plant in Tartu, Estonia.

The 1,600 m² facility is scheduled to be project-ready in Q1 2024 and will include a 400 m² cleanroom equipped with single-use bioreactors up to 1,000 L in scale, supplied by MilliporeSigma. Downstream equipment – also part of MilliporeSigma’s Mobius range – will be capable of processing kg-amounts of product, suitable for Phase I and II clinical trials.

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Furian

““We have steadily been working towards this important milestone for a long time,” said Icosagen CEO Mart Ustav. “Developing novel technologies and workflows will help increase our competitiveness in providing contract research and development service to our clients in Europe and other regions of the world.

“The cGMP facility will provide further state-of-the-art training and employment opportunities for local and regional scientists and, at the same time, expand the capabilities and impact of the European biopharmaceutical drug production industry. We are very grateful to the EIB for their crucial support in this endeavor.”

Thomas Östros, EIB vice-president, added: “The biopharmaceutical industry is expected to grow significantly in the future, based on superior efficacy and safety of biologics compared to small molecules, as well as increasing adoption for the treatment of chronic diseases. We at the EIB are proud to support this industry’s growth.

“By providing financing to Icosagen, an innovative and fast-growing company, we will enable it to provide its clients with a more complete range of services and products in the field of biologics in Europe and beyond.”