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AstraZeneca announces $1.5 billion facility for antibody-drug conjugates

Posted on by angelo
AstraZeneca announces .5 billion facility for antibody-drug conjugates

The new facility is expected to be operational in 2029. Credit: Mats Wiklund/Shutterstock.

Pharmaceutical giant AstraZeneca has announced plans to invest $1.5 billion in a new antibody-drug conjugate (ADC) manufacturing facility in Singapore.

The new facility will be the company’s first to cover the entire manufacturing process for ADCs, which are a highly effective and targeted type of cancer treatment. In this way, it will support AstraZeneca’s ADC production, of which it already has a large portfolio.

The project is supported by the Singapore Economic Development Board (EDB), and construction is expected to start by the end of 2024. The plant is expected to be operational by 2029.

Pascal Soriot, CEO of AstraZeneca, said: “AstraZeneca has built a portfolio of cutting-edge cancer medicines, including antibody-drug conjugates, which have shown enormous potential to replace traditional chemotherapy for patients in many settings. Singapore is one of the most attractive countries in the world for investment given its reputation for excellence in complex manufacturing, and I am delighted that AstraZeneca is establishing its $1.5 billion ADC manufacturing facility in the country.

Png Cheong Boon, Chairman of the EDB, added: “We welcome AstraZeneca’s decision to establish an industrial presence in Singapore for the first time. It will also be a first for AstraZeneca – an end-to-end manufacturing facility for novel antibody-drug conjugates that enable precision cancer therapy.

“This new investment is a strong demonstration of confidence in Singapore’s biopharmaceutical manufacturing capabilities and talents, strengthens our ecosystem by supporting the development and manufacturing of precision medicines, and creates significant jobs and economic opportunities for Singapore. We look forward to a successful partnership with AstraZeneca.

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Earlier this year, AstraZeneca announced a $300 million investment in a facility for cell therapy platforms in Rockville, Maryland, USA.

Headquartered in Cambridge, England, the company has operations in Europe, the Americas, Asia, Africa and Australasia, and has approximately 89,000 employees worldwide.