Mabion, a Polish biotech firm, is to invest PLN 20m (€5m) in an R&D hub in Lodz Special Economic Zone (LSSE), Puls Biznesu reported. The 650 m2 laboratory will be located in Textorial Park on Fabryczna Street. The laboratory is expected to become the first unit in Poland to produce biotechnology medicines used in clinical research. It will also help to expand the company’s manufacturing capabilities. First employees are to be recruited in November.
Mabion’s majority shareholders are pharma firms Celon Pharma, IBSS Biomed, Polfarmex and Genexo and biotech research consultants BioCentrum and Biotech Consulting. As Pharma Poland News reported previously, the company has recently entered NewConnect, the junior Warsaw market, to earn PLN 22.8m (€5.7m). The issue proceeds will be used to finance the second stage of clinical trials of two candidate treatments: for breast cancer and lymphoma.
Mabion plans to conduct a second, much bigger listing in the second quarter of 2012, aiming to raise PLN 50m-80m (€12.6m-20m) for further stages of development work. The company has estimated the total cost of developing the two medicines at PLN 120m (€30.2m). It is also working on several other cancer therapies which it would like to bring to market in 2015-2016. By 2020, it would like to reach PLN 1.4bn (€352m) in sales revenues.
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