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Cytovance to Expand Bio-Manufacturing Capabilities

Cytovance Biologics has secured financing of $22.5 million from Great Point Partners, LLC to invest in the expansion its biologic manufacturing capabilities in Oklahoma City.

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Cytovance Biologics has secured financing of $22.5 million from Great Point Partners, LLC to invest in the expansion its biologic manufacturing capabilities in Oklahoma City.

The investment will enable Cytovance to expand its clinical trial and commercial scale cGMP manufacturing by funding facility, service and personnel expansion at its research and manufacturing operation in Oklahoma City. Cytovance will move to a nearby facility with laboratories recently vacated by Genzyme. Cytovance also acquired analytical and bioprocess equipment from Genzyme for the expanded facilities.

“Great Point reached out to us last year. It was evident from our first conversation they were very knowledgeable about the biologics manufacturing space and recognized the potential growth opportunities for Cytovance with additional working capital. They share our existing partners’ optimism moving forward and will be a valuable addition to our organization in terms of their vision and understanding of our business,” said Darren Head, chief executive officer of Cytovance. “Great Point’s investment allows us to accelerate our next phase of growth.”

As part of their investment, Great Point managing directors Dr. Jeffrey R. Jay and David Kroin, and senior vice president Noah F. Rhodes, III, will join Cytovance’s board of directors.

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