Viralgen obtains €30 million for the new manufacturing plant

July 2020, San Sebastián – Viralgen Vector Core, chosen to “mass” manufacture the COVID-19 vaccine, which is being developed by Massachusetts General Brigham Hospital (MGB) and Harvard University, has obtained a financing line of eur 30 million for its new production plant and its expansion plan.

Banco Santander, CaixaBank, the Basque Institute of Finance and Kutxabank, entities that will give “financial support” to Viralgen, have made this agreement public in a press release on Tuesday.

According to the statement, the new Viralgen plant, which will consist of three blocks with a total of 36,000 square meters, will have its first building ready for approval by health entities at the end of 2021 and will host a team of more than 200 highly skilled workers.

It is expected that with these new facilities, where the drugs approved for commercial distribution will be produced, the expansion plan of Viralgen will be completed. Viralgen is since 2017 a manufacturing company of AAV viral vectors for gene therapy. In three years has gone from seven to over a hundred workers.

Viralgen’s CEO, Javier García Cogorro, assures that “the institutional and financial institutions support has been very important to facilitate this expansion and to consolidate itself as a world leader in the AAV production market”.

Viralgen, whose new plant will come online in 2021, is the only non-US company that is part of the consortium led by Harvard University and Massachusetts General Birgham Hospital for research and development of a COVID-19 vaccine using viral AAV vectors.

 

Source:  https://www.noticiasdegipuzkoa.eus/actualidad/sociedad/2020/07/28/viralgen-logra-30-millones-nueva/1045564.html