LONDON (dpa-AFX) - British drug major AstraZeneca Plc. (AZN.L, AZN) announced Monday that it intends to build a $1.5 billion manufacturing facility in Singapore for antibody drug conjugates or ADCs with a view to supporting global supply of its ADC portfolio.
The plant, which is projected to be the firm's first-ever facility to cover the full manufacturing process for ADCs, will be supported by the Singapore Economic Development Board or EDB.
AstraZeneca aims to begin design and construction of the manufacturing facility by the end of 2024, with targeted operational readiness from 2029.
ADCs are next-generation treatments that deliver highly potent cancer-killing agents directly to cancer cells through a targeted antibody. According to the company, manufacturing of ADCs is a multi-step process that comprises antibody production, synthesis of chemotherapy drug and linker, conjugation of drug-linker to the antibody, and filling of the completed ADC substance.
The planned greenfield facility will be AstraZeneca's first end-to-end ADC production site, fully incorporating all steps of the manufacturing process at a commercial scale.
AstraZeneca will work with Singapore's government and other partners on green solutions for the ADC facility, which will be designed to emit zero carbon from its first day of operations.
Pascal Soriot, Chief Executive Officer, AstraZeneca, said, 'AstraZeneca has built an industry-leading portfolio of cancer medicines including antibody drug conjugates which have shown enormous potential to replace traditional chemotherapy for patients across many settings. Singapore is one of the world's most attractive countries for investment given its reputation for excellence in complex manufacturing, and I am excited for AstraZeneca to locate our $1.5 billion ADC manufacturing facility in the country.'
AstraZeneca noted that it has a broad portfolio of in-house ADCs including six wholly owned ADCs in the clinic and many more in preclinical development.
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