Baar, 19 December 2022 – PolyPeptide Group AG (SIX: PPGN), a focused global CDMO for peptide- and oligonucleotide-based active pharmaceutical ingredients, today announced the signing of a significant commercial agreement for one of its phase III custom projects.
As reported with half-year results on 19 August 2022, the custom projects pipeline of PolyPeptide included 218 active projects at the end of June 2022, of which 30 were in phase III of clinical development.
For one of these projects, PolyPeptide has now reached a milestone by signing a multi-year commercial agreement with an annual order value of around EUR 100 million after a ramp-up phase starting in 2024. The agreement is subject to the usual customer confidentiality. It is consistent with the mid-term outlook communicated by PolyPeptide on 19 August 2022 and provides for additional order value potential over time.
This milestone is the result of a successful project collaboration over several years between PolyPeptide and its customer, with whom it maintains a long-standing relationship. For production, PolyPeptide will utilize the new large-scale solid phase synthesis infrastructure that it plans to bring online in Braine-l’Alleud (Belgium) in early 2024. The facility will be deploying advanced technology, resulting in a high degree of automation and productivity.
Raymond De Vré, Chief Executive Officer of PolyPeptide, commented:
“The signing of the agreement reinforces our confidence in the growth opportunities in our market and, more specifically, within our pipeline of phase III custom projects. We are proud to contribute day-by-day to the development and supply of drugs to the benefit of millions of patients.”
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