DSM Announces Biologics Development and Manufacturing Agreement for Australian Facility

DSM Pharmaceutical Products, the custom manufacturing and technology business of Royal DSM have announced that it has signed a biologics contract manufacturing agreement with Paranta Biosciences Ltd of Melbourne, Australia.

The contract covers the process development and cGMP manufacture by DSM of Paranta's lead recombinant human protein. This project represents an agreement for DSM with an Australian customer at their Brisbane facility. Paranta Biosciences is an early stage drug development company dedicated to developing and commercialising novel biotherapeutics based on recombinant human follistatin for the treatment of respiratory diseases.

Alexander Wessels, CEO of DSM Pharmaceutical Products, stated, "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."

Ross Barrow, CEO of Paranta Biosciences stated, "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."

Karen King, President of DSM Biologics, the business unit of DSM Pharmaceutical Products operating the Brisbane site, commented "We are proud to announce that Paranta has selected DSM as its manufacturing and development provider. DSM will bring over 25 years of experience, a state-of-the-art facility and an expert team in Brisbane to help drive the success of Paranta's lead project."

Financial terms were not disclosed.