CLINUVEL PHARMACEUTICALS LTD today announced that it is investing in the further expansion of its facilities in Singapore with new state of the art and expanded laboratories to open 1 July 2020. The research and development capacity of its wholly owned subsidiary, VALLAURIX PTE LTD, will be expanded through both a new biological and analytical laboratory, which will work according to both ISO17025 and Good Laboratory Practice (GLP) specifications. CLINUVEL is adding new highly skilled local personnel to its existing team and specialised technical laboratory equipment to further enhance the progress of its product pipeline.
EDB SUPPORTS VALLAURIX EXPANSION PLAN
CLINUVEL is pleased that VALLAURIX has received support of its expansion plan from the EDB with an award under their Research Incentive Scheme for Companies (RISC). This is part of the Government of Singapore’s incentives to assist Singaporean businesses to develop their research capacity to advance high valued technologies. The award is up to S$500,000 (A$547,000) over 3 years.
“As part of establishing a diversified pharmaceutical company we are injecting substantial funding to accelerate our R&D output. The decision to expand VALLAURIX’s laboratories in Singapore had hinged on the FDA’s grant of marketing authorisation in October 2019 of SCENESSE® (afamelanotide 16mg)1, since this outcome provided our team the ultimate seal of approval for the family of melanocortins.” CLINUVEL’s CEO, Dr Philippe Wolgen said. “We are steadily establishing the infrastructure of CLINUVEL providing for both organic and inorganic growth with the ultimate objective to unveil multiple offerings.”
“The economic history and achievements of Singapore demonstrate how this outstanding nation wishes to further both its technological knowhow and scientific aptitude. The Government of Singapore looks for opportunities to increase the country’s GDP through enhanced economic and scientific output and in this context, the EDB’s financial support of our innovation in new chemical entities and novel medicines is most appreciated,” Dr Wolgen said.
1 SCENESSE® (afamelanotide 16mg) is approved in the European Union as an orphan medicinal product for the prevention of phototoxicity in adult patients with erythropoietic protoporphyria (EPP). SCENESSE® is approved in the USA to increase pain free light exposure in adult EPP patients with a history of phototoxicity. Information on the product can be found on CLINUVEL’s website at www.clinuvel.com.