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Feb 21, 2008

Genmab Steps Up Production Capacity through $240M Purchase of PDL BioPharma’s Site

  • Genmab is acquiring PDL BioPharma’s antibody manufacturing facility for $240 million in cash. The transaction includes the plant located in Brooklyn Park, MN, land, equipment, and access to a leased space housing a development lab.

    Genmab expects that the Minnesota site, which has a production capacity of 22,000 liters, will be sufficient to provide a sustainable source of both clinical- and commercial-scale material for its pipeline.

    “The facility includes two 1,000-liter and two 10,000-liter bioreactors, which support the simultaneous manufacture of multiple antibody products and will enable Genmab to transition three antibodies from research to manufacturing per year,” according to Lisa N. Drakeman, Ph.D., CEO of Genmab.



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