Seems that Green Cross will not get its products to market until 2020. It does have a long term supply contract with Hema Quebec for its IVIG and albumin production.
PDF version of the press release.
Montreal, Qubec (October 30, 2017)—Green Cross Biotherapeutics Inc. (GCBT), a Montreal-based biopharmaceutical company and proud member of the Canadian and Qubec Life Sciences community, inaugurates today its state-of-the-art bio-manufacturing facility in Technoparc Montreal, and its North American Headquarters. GCBT is also to become the only Canadian manufacturing facility of plasma-derivative products, intravenous immunoglobulin (IVIG) and albumin. The availability of these two strategic biopharmaceutical products in Qubec and Canada is currently entirely dependent on imports.
The inauguration took place during a ribbon-cutting ceremony in the presence of Dr Il Sup Huh, Chairman and CEO, Green Cross, Young Ho Kim, CEO, Green Cross Biotherapeutics, Jin Hur, General Consul, Republic of Korea, Dominique Anglade, Qubec Deputy Premier, Minister of Economy, Science and Innovation and Minister responsible for the Digital Strategy, Gatan Barrette, Qubec Minister of Health and Social Services, Jean-Marc Fournier, Qubec Minister responsible for Canadian Relations and the Canadian Francophonie and MNA for Saint-Laurent, Emmanuella Lambropoulos, MP for Saint-Laurent, Denis Coderre, Mayor of Montreal, and Alan DeSousa, Borough Mayor of Saint-Laurent.
This $400 million investment, with the financial support of the Gouvernement du Qubec and the strategic assistance of Investissement Qubec, brings new biopharmaceutical technology, and creates more than 200 highly qualified jobs. Also, after investing an initial amount of $25 million in 2014, the Gouvernement du Qubec is adding today an additional loan of $5 million through the ESSOR program at Investissement Qubec.
Most importantly, GCBTs commitment represents the largest investment in the Qubec and Canadian biopharmaceutical industry for the past decade. The plant features a unique service of plasma fractionation, and will support healthcare in Canada by improving self-sufficiency and the security of its plasma protein product supply.
“We chose Montreal for its thriving life sciences sector, international-caliber research, innovative drive, and highly skilled workforce. Also, the availability of intravenous immunoglobulin and albumin in the Qubec and Canadian market is currently entirely dependent on imports, which underlines the strategic importance of our presence here. GCBTs inauguration marks the beginning of a new chapter in Qubec and Canada’s biopharmaceutical history, moving towards a truly self-sufficient Canada for plasma-derivative products” said Joon Hee Han, Managing Director of GCBT.
The 225,000-square-foot facility will initially be capable of processing 1,000,000 litres of plasma per year, which can satisfy more than 50% of the demand in Canada. Designs have allocated space within the facility to allow for an expansion to increase the processing capacity up to 2,000,000 litres without structural renovations. GCBT also has a long-term supply agreement with Hema Quebec for fractionation services and supply of plasma protein products.
GCBT is continuing its clinical trial process in order to begin commercialization in 2020.
About Green Cross Biotherapeutics
Established in 2014, Green Cross Biotherapeutics is a Montral-based biopharmaceutical company and member of the Green Cross family. GCBT is committed to producing high-quality, safe and effective products to save lives and improve the quality of life for people with rare and serious medical conditions.
As part of the $400 million expansion of its North American head office in Montral, GCBT’s new state-of-the-art facility will produce plasma products such as IVIG and albumin, and serve as the cornerstone of the company’s global development strategy. With commercial production planned for 2020, GCBT will become Canada’s only IVIG & albumin manufacturer, marking a new chapter in the history of the Canadian biopharmaceutical industry.