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AVITA Medical Announces Acquisition of Manufacturing Facility to Support Planned U.S. Launch of RECELL® Device
Jun. 28, 2018 09:29AM PST
Biotech InvestingAVITA Medical (ASX:AVH, OTCQX:AVMXY) today announced that it has entered into an agreement to acquire a manufacturing facility to support the planned U.S. launch of the RECELL® Autologous Cell Harvesting Device in the treatment of burns. As quoted in the press release: The facility is currently operated by a Fortune 500 contract manufacturer that assembles …
AVITA Medical (ASX:AVH, OTCQX:AVMXY) today announced that it has entered into an agreement to acquire a manufacturing facility to support the planned U.S. launch of the RECELL® Autologous Cell Harvesting Device in the treatment of burns.
As quoted in the press release:
The facility is currently operated by a Fortune 500 contract manufacturer that assembles the RECELL Device for AVITA Medical. AVITA Medical will take over operations of the 2,200 square meter (23,000 square foot) manufacturing plant, located in Ventura, California, effective July 1, 2018 and will retain key employees.
“Having direct control over the manufacturing of RECELL will ensure that we have the capacity to meet commercial demand, including the planned U.S. launch and the BARDA procurement, and provide us further control over our production processes and timelines,” said Dr. Michael Perry, Chief Executive Officer. “Acquiring this facility that has a track record of producing RECELL allows us to realize the benefits of in-house production while maintaining the continuity of proven manufacturing and quality processes and systems.”