Tepnel Provides Update on Development of Contract Analysis Facility
News Feb 24, 2006
Tepnel Life Sciences PLC has completed the purchase of 1.7 acres of land in Livingston, Scotland for the construction of a dedicated pharmaceutical, protein and genomic analysis facility.
The 18,000 square foot laboratory will allow Tepnel to consolidate its existing pharmaceutical services business into a single location with its primary function being the analysis of therapeutic proteins including recombinant and affinity purified proteins for use as therapeutic agents and vaccines.
The Company will also expand it pharmacogenomics capabilities to include high throughput genotyping and other genomic analysis techniques.
Ben Matzilevich, Tepnel's CEO, says, "This is an important milestone in our long-term strategy to provide the most competitive platform for our existing pharmaceutical analysis services."
"It will also allow us to continue the successful development of some of our most specialized products and services in high growth areas such as pharmacogenomics and new generations of vaccines."
"I especially would like to thank Scottish Enterprise Edinburgh and Lothian for its continued support of this project, without which we could not have proceeded, and also the support of the Scottish Executive through their provision of an RSA grant which is helping Tepnel create value within the Scottish economy through the creation of jobs as a result of this project."
"This facility, which will be owned by Tepnel, will enable our Research Products & Services group to use our mass spectrometry capabilities in building our position in the rapidly evolving therapeutic protein market."
"Additionally, we shall expand our capabilities in bio-and immunoassays of these therapeutic molecules for our pharmaceutical and biotechnology customers."
"By building and owning a facility such as this we will have created a valuable asset for Tepnel which will give the Company significant flexibility for further expansion and growth."
"Our objectives remain continued strong top line growth and increasing bottom line profitability while maintaining a healthy pipeline of new products and services directed to key market segments."