TORONTO, March 1, 2023 /CNW/ - AtomVie Global Radiopharma Inc. (AtomVie) is pleased to announce the execution of a Lease Agreement with Panattoni Development Company in Hamilton, Ontario, Canada, for its new state-of-the-art facility. AtomVie's new facility will be dedicated for high volume clinical and commercial GMP manufacturing and worldwide distribution of radiotherapeutics, an innovative, high-growth class of drugs for the treatment of cancer patients.
Currently located on the McMaster University campus, AtomVie successfully operates a global leading Contract Development and Manufacturing Organization (CDMO) facility that is home for more than 10 international radiopharmaceutical GMP manufacturing programs. The new facility of 64,000 sq. ft., expected to be commissioned in 2024, will increase production capacity more than 10 times, allowing the expansion of its clinical and commercial operations to meet the needs of the rapidly expanding radiopharmaceutical market.
Hallmarks of the new facility include cleanrooms and laboratories to sustain over 18 production lines and space for dedicated, high-volume commercial manufacturing. The facility is strategically located in proximity of the Toronto Pearson International Airport, the John C. Munro Hamilton International Airport and the USA border. AtomVie is well positioned to solidify and grow its presence as a global leader in radiopharmaceutical GMP manufacturing, serving patients locally and worldwide.
"AtomVie celebrates yet another milestone by beginning a buildout that will increase our capacity more than ten-fold" says Bruno Paquin, CEO of AtomVie Global Radiopharma. "We are thrilled to continue being part of the Hamilton radiopharmaceutical ecosystem and by partnering with Panattoni, we were able to choose our new facility's home to meet clinical and commercial supply needs for radiotherapeutics, resulting in patients receiving much-needed therapies."
Kevin McNeill, Partner at Avego and AtomVie's Chair of the Board of Directors added "AtomVie's new facility will provide much-needed capacity for the high-growth global radiopharmaceutical market. We are pleased to be able to meet the expanding needs of our clients and patients."
AtomVie, officially launched in August 2022 with the successful closing of its series A financing of $40M by Avego. AtomVie, a spinout of the Centre for Probe Development and Commercialization (CPDC), is a global leading CDMO for the GMP manufacturing and global distribution of clinical and commercial radiopharmaceuticals. Building upon the expertise developed at the CPDC, a McMaster University Centre of Excellence, and its reputation as high-quality radiopharmaceutical CDMO, AtomVie offers the full range of scientific, technical, regulatory, quality, logistics and business expertise combined with a specialized infrastructure for the development of radiopharmaceuticals from clinical studies to the commercial marketplace. AtomVie currently serves 10 international clients conducting studies in over 17 countries worldwide.
SOURCE AtomVie Global Radiopharma Inc.
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