Ampio Pharmaceuticals began construction of its new manufacturing facility in Denver, CO for its lead drug candidate, Ampion, for the treatment of osteoarthritis of the knee. The facility is expected to be ready for production in the summer of 2014 and should generate approximately 40 new jobs in the next two years.
"The construction of this manufacturing facility will accomplish a major milestone for the commercialization of Ampio's lead drug," said Michael Macaluso, chairman and chief executive officer of Ampio. "We are excited about the prospect of bringing a safe and effective medicine to patients whose quality of life have suffered due to osteoarthritis of the knee. Having announced positive trial results, we look forward to reaching commercial-scale production of Ampion that would follow FDA clearance. The facility will have an annual production capacity of approximately ten million doses of Ampion. More than 50% of the source material, human serum albumin or HSA, required to meet this capacity has already been secured through a long-term, non-exclusive, supply agreement as previously announced."