OmniaBio Inc. announces a new private investor
by CM Staff
Medipost is acquiring an interest in OmniaBio from CCRM for cash of $30 million and is investing an additional $60 million into OmniaBio.
Medipost is acquiring an interest in OmniaBio from CCRM for cash of $30 million and is investing an additional $60 million into OmniaBio.
HAMILTON — OmniaBio Inc., a subsidiary of CCRM, has executed a strategic agreement with Medipost, a company involved in stem cell therapeutics. Medipost is acquiring an interest in OmniaBio from CCRM for cash of $30 million and is investing an additional $60 million into OmniaBio. The transaction is expected to close on July 1, 2022.
“CCRM has spent a great deal of time looking for the right investment partner for OmniaBio, and we are very pleased to have Medipost on board,” says Mitchel Sivilotti, President of OmniaBio Inc. “Medipost will be an initial anchor and revenue generating customer of OmniaBio and will also help us develop an international customer base in Asia. We are launching from a strong and stable position and will be starting construction at McMaster Innovation Park this summer.”
OmniaBio is expected to be a large contract development and manufacturing organization (CDMO) for the manufacture of cell and gene therapies. OmniaBio will provide Phase III and commercial-scale manufacturing of gene-modified cells and viral vectors that is an expansion of the clinical-stage capabilities already offered by CCRM, a company involved in developing and commercializing regenerative medicine-based technologies, and cell and gene therapies.
The funding from Medipost contributes to an overall project worth $580 million for the real estate construction and operation of OmniaBio.
“CCRM and Medipost share a global vision and desire for ecosystem building,” explains Michael May, President and CEO, CCRM, “so we couldn’t be more pleased with this partnership. OmniaBio wouldn’t be possible without partners like UHN, Cytiva, the University of Toronto and our government funders. We are grateful to all who have supported our vision, including Medipost.”
OmniaBio will work with a variety of cell types, such as T cells and induced pluripotent stem cells. OmniaBio’s manufacturing platforms are customized for viral vectors, as well as autologous and allogeneic cells.
OmniaBio reports that there is a manufacturing capacity issue in the cell and gene therapy industry due to the large volume of products in clinical trials, with demand outstripping CDMO availability by at least five times. In the first phase of construction, OmniaBio will build an approximately 85,000 ft2 (7,897 m2) facility, equipped with 15 clean rooms and staffed by 500 employees, which is expected to be completed in 2024.
