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Profile: Avid Bioservices Inc (CDMO.OQ)

CDMO.OQ on NASDAQ Stock Exchange Capital Market

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20 May 2019
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Avid Bioservices, Inc., formerly Peregrine Pharmaceuticals, Inc., incorporated on September 25, 1996, is a biopharmaceutical company. The Company is engaged in providing contract manufacturing services for third party customers on a fee-for-service basis while also supporting its internal drug development efforts. The Company delivers pharmaceutical products through its contract manufacturing business and through licensing its development-stage immunotherapy products. The company provides a comprehensive range of process development, high quality cGMP clinical and commercial manufacturing services for the biotechnology and biopharmaceutical industries. Its services include cGMP clinical and commercial product manufacturing, purification, bulk packaging, stability testing and regulatory strategy, submission and support. The Company also provides a variety of process development activities, including cell line development and optimization, cell culture and feed optimization, analytical methods development and product characterization.

The Company operates its drug development business focused on developing therapeutics designed to fight cancer by reversing the immunosuppressive environment that many tumors establish in order to proliferate. These therapeutics allow the immune system to recognize and destroy tumor cells. Bavituximab is its lead immunotherapy candidate, and it has clinical collaborations with AstraZeneca and the National Comprehensive Cancer Network (NCCN), as well as a preclinical collaboration with Memorial Sloan Kettering Cancer Center (MSKCC). Bavituximab is a monoclonal antibody that targets and binds to phosphatidylserine (PS), a immunosuppressive molecule that is usually located inside the membrane of healthy cells, but then flips and becomes exposed on the outside of cells in the tumor microenvironment, causing the tumor to evade immune detection. Bavituximab targets and binds to PS to block the immunosuppressive pathway and simultaneously activates adaptive immunity, thereby enabling the immune system to recognize and fight the tumor.

The Company's contract development and manufacturing organization (CDMO) that provides integrated manufacturing practices (cGMP) services from cell line development to commercial biomanufacturing. It produces monoclonal antibodies and recombinant proteins in batch, fed-batch and perfusion modes. Its services include cGMP clinical and commercial manufacturing utilizing stainless steel and single use bioreactor technology, purification, bulk packaging, stability testing, regulatory strategy and related support. Avid also provides a range of process development activities, including cell line development and optimization, cell culture and feed optimization, analytical methods development and product characterization.

Company Address

Avid Bioservices Inc

2642 Michelle Dr Ste 200
TUSTIN   CA   92780-7019
P: +1714.5086100
F: +1714.8385817

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