THE WOODLANDS, Texas, Aug. 6, 2020 /PRNewswire-PRWeb/ -- VGXI, a highly regarded CDMO supporting the gene therapy and DNA vaccine industries, announces it has closed on the purchase of greenfield for a new, expanded manufacturing facility. The site is located in Deison Technology Park in Conroe, TX and includes over 21 acres in the initial acquisition, with an option to purchase an additional 21 acres for future expansion. In collaboration with design-build partner BE&K, the Design Development phase of the project is well underway with groundbreaking planned in 3Q 2020 and substantial completion targeted by 3Q 2021. The first phase of the facility is expected to be operational by January 2022.
Multiple manufacturing trains are incorporated into Phase 1 of the design to achieve over 500% increase in capacity immediately upon completion, with established timelines for continued, rapid growth in the facility and production capabilities. In addition, there is flexibility within each GMP suite to support a wide range of projects from early clinical through commercial supply. The facility will also include micro processing suites for small scale projects and dedicated areas for GMP RNA manufacturing.
"Demand for high quality and reliable plasmid manufacturing services has increased dramatically as DNA immunotherapy and gene therapies demonstrate success in clinical studies," stated VGXI CEO Young Park. "The established site for our new facility and multi-phase expansion strategy enables VGXI to continue to grow and support the success of our clients' products as these industries mature."
ABOUT VGXI, INC.
VGXI, Inc. is a leading provider of manufacturing and development services for DNA vaccines and gene therapies. The company has a reputation of success in manufacturing DNA products under cGMP conditions for clinical trials in the US, EU, Asia, Canada, and Australia, and its cGMP and non-GMP products have passed rigorous reviews by several international regulatory agencies. VGXI's ability to work with unique requirements and create custom manufacturing solutions is based on its patented manufacturing process, flexible cGMP production facility, and experienced development team. VGXI, Inc. is a wholly-owned subsidiary CDMO of GeneOne Life Science, Inc. To learn more or request a quote, visit http://www.vgxii.com.
ABOUT GENEONE LIFE SCIENCE
GeneOne Life Science Inc. ("GeneOne" KOSPI: 011000) is an international DNA vaccine and product developer, and leading contract manufacturer of DNA plasmid-based agents for pre-clinical and clinical trials for global companies and institutions. It researches and develops DNA vaccines and products to prevent and treat incurable diseases in South Korea and internationally. The company is headquartered in Seoul, South Korea. VGXI, Inc., GeneOne's wholly-owned manufacturing subsidiary located in Texas, is the largest pure-play cGMP DNA plasmid manufacturing facility in the world. For more information, visit http://www.genels.com.
CAUTIONARY FACTORS THAT MAY AFFECT FUTURE RESULTS
Materials in this press release contain information that includes or is based upon forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Forward-looking statements relate to expectations or forecasts of future events. These statements can be identified by the fact that they do not relate strictly to historical or current facts. They include words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," and other words and terms of similar meaning in connection with a discussion of potential future events, circumstances or future operating or financial performance. In particular, these include statements relating to future actions, prospective products or product approvals, future performance or results of current and anticipated products, sales efforts, expenses, the outcome of contingencies such as legal proceedings, and financial results. Any or all of our forward-looking statements here or in other publications may turn out to be incorrect. They can be affected by inaccurate assumptions or by known or unknown risks and uncertainties. Many such factors will be important in determining our actual future results. Consequently, no forward-looking statement can be guaranteed, and forward-looking statements may be adversely affected by factors, including general market conditions, competitive product development, product availability, current and future branded and generic competition, federal and state regulations and legislation, manufacturing issues, timing of the elimination of trade buying, patent positions, litigations and investigations. Our actual results may vary materially, and there are no guarantees about the performance or valuation of GeneOne stock. It is also important to read the disclosure notice contained in many of the individual GeneOne documents available on the website, as many contain important information on such cautionary factors as of the date of the individual document. We undertake no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise. You are advised, however, to consult any further disclosures we make on related subjects in our reports.
SOURCE VGXI, Inc.
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