ICPBio Boosts Freeze Drying Capacity

NZX ANNOUNCEMENT

Subject: ICPBio Boosts Freeze Drying Capacity

Sample batches of new freeze dried albumin product are to be supplied by ICP Biotechnology Ltd to key targeted customers following today’s commissioning of new freeze drying capacity at the manufacturer’s new Henderson plant.”

“The first batch of bovine albumin product is beginning its freeze drying cycle which will take between 36 – 48 hours to complete,” said Dr Earl Stevens, managing director of ICPbio. “Thereafter the new freeze drier is planned to run continuously.”

Further freeze drying capacity will be commissioned next week to dry the smaller quantity higher value protein products (transferring, IgG, thrombin, fibrinogen, anti-trypsin, trypsin), similarly extracted from New Zealand meat sector by-products and purified by ICPbio for sale as high-value biochemicals used by the global research, biotechnology and pharmaceutical industries.

“This week’s commissioning of the first of the new freeze driers is a major milestone in the redevelopment of ICPbio into a biologicals company,” said Dr Stevens. “From here on in, the new plasma fractionation facility will be operated at maximum throughput to rapidly build inventory for sale during the balance of the financial year and beyond.”

He said ICPbio’s recently expanded global sales and marketing team aim to reach targeted customers spread across the USA, Europe and Asia.

“Our present focus is on those with relatively short lead times to ensure that ICPbio is able to maximise the sales planned to take place prior to the end of the financial year, and forming the basis of our forward-looking statements. As such they are inherently uncertain until achieved, but we can now provide pre-purchase samples for testing and approval on a very active basis and expect to meet established demand.”

“We are also continuing to work with major international biopharmaceutical customers with longer lead times in order to continue the sales momentum in the new financial year,” said Dr Stevens.

“The company is purposely adopting a strategy of pursuing sales with established international distributors of the products in order to shorten the sales cycle. Nevertheless, although the timing of sales will generally be spread across different reporting periods, importantly, product quality is unaffected. Once freeze dried our products will remain stable for many years.

Dr Stevens said ICPbio has made a significant investment in its export-related capacity over the summer and most aspects of the new facility are nearing completion.

“It is an exciting phase of the company’s development and the very rapid (by international standards) construction and commissioning of this new aspect of ICPbio’s business is a credit to all the staff and contractors who have made it happen,” said Dr Stevens.

About ICPbio: Unlike other biotechnology companies, ICPbio’s success is not dependent on discovering and exploiting its own novel drug discovery intellectual property but instead focuses on the low risk, high return end of the biotechnology market – and adding significant value to NZ farming sector output. ICPbio manufactures the media, serums and biochemicals pharmaceutical and biotechnology companies use to make, test, store, and deliver their products.

NOTE: This document contains certain forward-looking statements including, but not limited to, statements as to future operating results and plans that involve risks and uncertainties. One can identify these forward-looking statements by use of words such as "strategy," "expects," "plans," "anticipates," "believes," "will," "continues," "estimates," "intends," "projects," "goals," "targets" and other words of similar meaning. One can also identify them by the fact that they do not relate strictly to historical or current facts. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by those projected in the forward-looking statements for any reason.

Any statements that are not based on historical fact are forward-looking statements. Although such statements are based on the Director’s and/or company management’s current estimates and expectations, and currently available competitive, financial, and economic data, forward-looking statements are inherently uncertain. We, therefore, caution the reader that there are a variety of factors that could cause business conditions and results to differ materially from what is contained in our forward-looking statements.

ENDS

www.icpbio.com

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