Tanvex BioPharma Forging Strategic Alliance With Bora Pharmaceuticals
SAN DIEGO, September 5, 2024 (Newswire.com) - Tanvex BioPharma (“Tanvex” or the “Company”), a contract development and manufacturing organization (CDMO) for biologics and a biosimilars products company, recently announced that the Board of Directors approved the acquisition of Bora Biologics Co., Ltd. (“Bora Biologics”), a CDMO subsidiary of Bora Pharmaceuticals (“Bora”). This strategic alliance will bring together Bora’s extensive CDMO capabilities and client-centric culture with Tanvex’s development expertise, scalable operations, and U.S. FDA-licensed commercial capacity facility in San Diego, California. Upon completion, Bobby Sheng, Chairman and CEO of the Bora Group, will be appointed Chairman of the merged organization. The transaction is expected to conclude in Q1 of 2025.
Bora Pharmaceuticals is a leading global CDMO with 10 state-of-the-art manufacturing facilities around the world. Bora will closely collaborate with Tanvex to leverage its global CDMO operations and capabilities to provide comprehensive solutions to biologics customers, including Bora’s new fill-and-finish capabilities in Camden, Maryland. Tanvex has created strong biologics development and manufacturing operations and brings over 100,000 square feet of biomanufacturing space and 1,000-liter bioreactors, which complement Bora’s 500-liter bioreactors to provide a highly scalable service offering. Combined, these capabilities offer a more robust development and manufacturing platform to global biologics customers.
Henry Chen, Chairman and CEO of Tanvex, stated, “Tanvex has been dedicated to the development and manufacturing of biologics since its inception and now offers an integrated suite of services from early-stage non-GMP pre-clinical development to commercial-stage CGMP manufacturing. This strategic investment by Bora presents an optimal opportunity to combine our strengths with Bora’s proven success in building a global CDMO platform characterized by exceptional quality, excellent manufacturing track record and strong customer relationships.”
“This strategic investment focuses on both parties’ shared vision for the biologics CDMO business,” added Bobby Sheng, Chairman and CEO of the Bora Group. “It combines Bora’s strong reputation, industry-leading quality and global operational resources with Tanvex’s established USFDA-approved commercial-scale biologics facility and biosimilar expertise in San Diego. This partnership will enable the combined entity to rapidly respond to evolving industry demands and policy developments, such as the U.S. BIOSECURE Act, and capitalize on new opportunities in onshoring, friendshoring, and the growing CDMO demands driven by these policy changes.”
About Tanvex
Tanvex BioPharma USA, Inc., a wholly owned subsidiary of Tanvex BioPharma, Inc. (TWSE: 6541), was founded in 2011 with a mission to revolutionize the healthcare industry by making biologics more affordable and accessible to patients. Over the years, Tanvex has honed its expertise in biologics development and manufacturing, culminating in the successful commercialization of our first product. With another Biological License Application (BLA) pending U.S. FDA approval, Tanvex’s journey is characterized by an unwavering commitment to excellence, innovation, and a passion for improving patient care.
Tanvex’s dedication to advancing healthcare has led to extending its capabilities, including its technical and operational expertise, to a broader audience as a CDMO — Tanvex CDMO. Biopharma companies leverage Tanvex CDMO’s state-of-the-art, U.S.-based and FDA-licensed facility, and deep knowledge in biologics development and manufacturing, to bring their products to market efficiently and effectively.
Relevant Links
https://www.tanvex.com/
https://tanvexcdmo.com/
About Bora
Founded in 2007, Bora Pharmaceutical Co., Ltd. is a leading global pharmaceutical manufacturer with well-connected global distribution to supply more than 100 countries around the world. Bora is dedicated to becoming a global leader in pharmaceutical manufacturing by offering its clients the best quality, efficiency, and reliability.
Source: Tanvex BioPharma USA, Inc.
