DSM Pharmaceutical Products has signed a biologics contract with Paranta Biosciences under which DSM will provide the process development and cGMP manufacture of Follistatin, Paranta's lead recombinant human protein, at its Brisbane facility. Financial terms were not disclosed.
Alexander Wessels, chief executive officer of DSM Pharmaceutical Products, said, "Working with Paranta is an important milestone for DSM to support the local client base directly from our facility in Australia, expanding our presence in global regions. Our collaboration with Biopharmaceuticals Australia (BPA), the Queensland Government and the Australian Commonwealth Government is already bringing benefits to Australia by providing biopharma firms local support and manufacturing expertise."
Ross Barrow, chief executive officer of Paranta Biosciences, said, "Follistatin has been shown to have great potential in treating a wide range of inflammatory and fibrotic respiratory diseases, which affect over 300 million people worldwide. Our selection of DSM as Paranta's biologics manufacturing partner is the culmination of an extensive global search process spanning more than nine months. We are looking forward to working with the Groningen and Brisbane groups of DSM Biologics as we continue the development and manufacturing scale-up of what we believe will be a truly exciting biotherapeutic."