A California-based CDMO will be looking to expand its capabilities in its home state to keep up with market demand.
Avid Bioservices is expanding its laboratories in Tustin, California around its capacity for its mammalian cell business.
The investment is priced at $6 million, and the 4,500-square-foot expansion is expected to be completed by the end of the year. No outside funds were necessary and the company used cash on hand to fund the project. This expansion tails other investments the company has made to increase process development capacity in 2019 and 2022.
Expanding its laboratories could support an additional $20 million in annual process development revenue, doubling the company’s current process development capacity, according to a statement.
“Avid is focused on ensuring that it always has available capacity to meet the needs of its customers (current and future),” said Nick Green, CEO of Avid, in an email to Endpoints…
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