Bavarian Nordic Consolidates its Vaccine Manufacturing in Denmark
KVISTGAARD, Denmark, January 11, 2013 - Bavarian Nordic A/S (OMX: BAVA) today announced that it will consolidate its manufacturing activities in Kvistgaard, Denmark with an aim to optimize productivity and profitability. As part of this consolidation, the company will prepare the Kvistgaard facility for the future commercial production of its prostate cancer vaccine, PROSTVAC® and also transfer its production of clinical trial material to the facility. Consequently, the company will close its operations in Berlin, Germany where it has been producing clinical trial material for its MVA-BN® based vaccine candidates.
During 2012, Bavarian Nordic has steadily improved the efficiency in the manufacturing of IMVAMUNE® smallpox vaccine at its commercial-scale facility in Kvistgaard. Further work is ongoing to improve the manufacturing process and the productivity, thus seeking to further improve the profitability of the current and future expected contracts with the U.S. Government to manufacture and deliver IMVAMUNE®.
To fully benefit from the in-house expertise in poxvirus-based vaccine manufacturing as well as to optimize the use of the Kvistgaard facility, Bavarian Nordic has decided to prepare the facility for the future commercial production of PROSTVAC® as well as to move its production of clinical trial material for the company's MVA-BN®-based development projects This allows Bavarian Nordic for a more flexible manufacturing approach and reduces dependence from subcontractors, thus providing the company full control of pre-launch activities for PROSTVAC®. At the Kvistgaard facility, functions to support the production development of PROSTVAC® are already in place and thus the preparatory work requires only moderate investments.
The above does not affect the company's expectations for the 2012 full year results.
Chairman of the Board
Anders Hedegaard, President & CEO. Phone +45 23 20 30 64
About Bavarian Nordic
Bavarian Nordic is a vaccine-focused biotechnology company developing and producing novel vaccines for the treatment and prevention of life-threatening diseases with a large unmet medical need. The company's pipeline targets cancer and infectious diseases, and includes ten development programs. In oncology, the company’s lead program is PROSTVAC®, a therapeutic vaccine candidate for advanced prostate cancer that is the subject of an ongoing pivotal Phase 3 trial and is being developed under a collaboration agreement with the National Cancer Institute. In clinical Phase 1 and Phase 2 trials, PROSTVAC® has been tested in nearly 600 patients. In infectious diseases, the company’s lead program is IMVAMUNE®, a non-replicating smallpox vaccine candidate that is being developed and supplied for emergency use to the U.S. Strategic National Stockpile under a contract with the U.S. Government. For more information, visit www.bavarian-nordic.com
This announcement includes “forward-looking statements” that involve risks, uncertainties and other factors, many of which are outside of our control that could cause actual results to differ materially from the results discussed in the forward-looking statements. Forward-looking statements include statements concerning our plans, objectives, goals, future events, performance and/or other information that is not historical information. We undertake no obligation to publicly update or revise forward-looking statements to reflect subsequent events or circumstances after the date made, except as required by law.
Company Announcement no. 1 / 2013