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Lifecore Biomedical, Inc. (NASDAQ:LFCR) ("Lifecore"), a fully integrated contract development and manufacturing organization ("CDMO"), today announced that it has signed a new 10-year commercial manufacturing and supply agreement with a key existing customer. This represents the latest agreement signed between the two companies to support the advancement of a novel ophthalmic therapeutic through clinical development and onto the market.
"In outlining our growth strategy for the coming years, we have stressed the importance of our pipeline of late-stage customer projects that are nearing potential commercialization in the mid-term. The signing of this long-term commercial supply agreement with one of those customers is a critical step on our path to recognizing impactful commercial manufacturing revenue from this longstanding relationship," said Paul Josephs, chief executive officer of Lifecore. "We are committed to supporting our customer as they advance this program toward the market with the potential to make a positive impact on the lives of patients."
In conjunction with the commercial manufacturing and supply agreement, Lifecore has also signed a multi-million-dollar statement of work detailing a range of fill and finish CDMO services that will further advance this program towards potential regulatory approval and commercialization. Under the terms of this new statement of work, Lifecore will be responsible for manufacturing a variety of batches of the drug candidate, including multiple Process Performance Qualification (PPQ) batches.
Posted In: LFCR
