UK's Angel Biotech plans to increase manufacturing capacity, to capitalize on growing EU and US biologics markets

UK biopharmaceutical contract manufacturer Angel Biotechnology Holdings (AIM: ABH) says that, in response to continuing demand for its products and in order to capitalize on the growing European Union and US advanced biologics market, the company is planning an increase to its manufacturing capacity and is expanding its business development team.

Since July this year, the company has signed four new projects and five contract extensions totaling more than £250,000 ($405,225). Angel has now signed around 70% of budgeted revenues for 2011 and has a total forward order book of more than £4 million.

In order to meet the demand of new orders and support Angel’s growth plans, the company is in advanced discussions to take over a mothballed Good Manufacturing Practice (GMP)-standard production facility which, when fully commissioned, would have the potential to increase its GMP manufacturing capacity further by approximately five-fold. A number of alternative options are also being explored but this mothballed facility has the benefit of being brought on line in phases and in a shorter time frame therefore offering new capacity earlier than would be the case for new build options.