ICPbio Gears Up To Supply Human Drug Manufacturers

April 7, 2006

Media statement

ICPbio Gears Up To Supply Human Pharmaceutical Manufacturers

Statement made by Dr Earl Stevens, Managing Director,
ICP Biotechnology Limited

In preparation for growing its manufacturing output to more than $20 million in 2007, and beyond in 2008, ICP Biotechnology Limited, which is moving to back door list on the New Zealand Exchange at the end of this month, has leased an additional 24,000 sq ft of manufacturing space.

Over the next two to three years more than $5 million will be invested in developing the new site as the sterile manufacturing base for ICPbio’s range of products for the human biotech and pharmaceutical industries. It will also provide additional space for an enlarged R&D team and controlled storage of finished products.

The new facility is adjacent to our existing 20,000 sq ft sterile manufacturing facilities in Henderson, Auckland, which focuses on biologicals, fine biochemical products and veterinary pharmaceutical products..

We are working 12 months out, and are making the decisions that will enable us to expand staff from 50 to 100, and expand the range and bulk manufacture of products for use by human biopharmaceutical companies in the manufacture of their own products.

Having the two sterile manufacturing facilities as stand alone entities is also a sensible risk management strategy, as we will have a fall back position in the unlikely, but theoretical possibility, event that one site is unable to operate for a period of time, for whatever reason.

Within the two facilities ICPbio will manufacture the media, serums and biochemicals multinational biotech and pharmaceutical companies use to make, test, store or deliver their products. Our specialisation is in providing high quality, sterile, disease and virus free products for human and animal pharmaceutical companies use to develop, test and market their products.

ICPbio is one of New Zealand’s longest established ( more than 20 years ) biotechnology companies, and more than 95% of our products are exported primarily to North America, Europe, Asia and South America.

ICPbio will achieve NZX listing through Australasian Property Holdings Group Limited ( APH ).

Statistics New Zealand ( May 5, 2006 ) reported that biotechnology in New Zealand is edging towards a $1 billion industry employing some 2400 people.

ENDS

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