BioNua Limited, a wholly-owned subsidiary of Nexvet, has signed a ten-year lease to run its business operations at a 20,000 sq ft manufacturing facility in Tullamore, Co Offaly.

The firm will also have the option to purchase the building at the end of the lease agreement.

The facility has operated under an Investigational Medicinal Products License and a cGMP Manufacturing License from Ireland's Health Products Regulatory Authority and is equipped with cGMP grade clean rooms, water for injection, purified water, and clean steam generation systems. The manufacturing facility is supported by analytical and development laboratories.

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BioNua Limited will also pay €1.75 million to secure the manufacturing assets within the facility.

Dr Mark Heffernan, Chief Executive Officer of Nexvet said: "The opportunity to assume full control of our manufacturing is compelling, as existing manufacturers may face regulatory uncertainties regarding the manufacture of human and veterinary products in the same facility. Securing this facility at a fraction of its replacement cost reduces this uncertainty and will significantly lower our development expenses and ultimately our cost of goods."

"Securing this facility is part of our strategic plan for building a vertically integrated biopharmaceutical business in animal health. Our commitment to manufacturing demonstrates our long-term view for these products in this growing industry. We're excited to join a growing cluster of biopharma developers and manufacturers in Ireland."

(CD/LM)