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Horizon’s biomanufacturing business boosts revenue

Horizon Discovery Group has provided an update on the commercial operation of its Biomanufacturing business with significant growth in cell line licensing revenue to over £1.3m already recognized in 2016, a more than 3x increase over 2015.

Since the launch of the programme in December 2014, pharmaceutical, biotech and contract manufacturing organisations around the world have engaged in product evaluations which are now resulting in several high margin licensing deals being signed and establishing a strong pipeline for 2017.  Over 20 biomanufacturing cell line evaluations are currently underway, including three in China and a further two in India, said the company in its press release.

The company noted that Asia is an important market for the pharmaceutical industry, with the market in China growing at 12%1 and in India at 11%, and many of the world’s biosimilar companies (generic biotherapeutics) are located in the region.  Following a successful evaluation period, Horizon has granted its first commercial license in China to a major regional pharmaceutical company.  Horizon has also signed its first commercial license in India, with visibility to a further two licenses likely to be signed in Q1, demonstrating the Company’s successful penetration into these markets.

Each evaluation project varies in size and scope, providing from £10k to £30k in revenue and operating for 6-12 months.  Upon completion, if a commercial license is taken, each project is valued at between £150,000 and £350,000 dependent on terms.  Several of these evaluations are expected to conclude by Q1 2017.

Dr. Darrin Disley, Chief Executive Officer, Horizon Discovery, commented: “Today’s announcement demonstrates the scalable potential of Horizon’s high margin Biomanufacturing business.  With numerous evaluations currently underway, and the Company poised to see broad adoption in future drug manufacturing workflows, Horizon is well positioned to continue its disruptive business model in the market.”

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