iX Biopharma expands wafer production capacity, on track for 1st commercial batch in July

SPECIALTY pharmaceutical company iX Biopharma on Wednesday announced it has installed new freeze-dry equipment that will allow it to expand its current wafer production capacity for its WaferiX sublingual wafers by up to six times.

The company is on track to produce its first commercial batch of wafers in July 2021, it said in its bourse filing, adding that it expects to benefit from improved operational efficiency and economies of scale.

iX Biopharma said that the expanded capacity will afford it the ability to pursue commercial partnerships, invest in marketing opportunities and expand into new markets.

Previously, iX Biopharma had intended to scale up its wafer production capacity by April 2020 following the expansion of its Entity brand of nutraceutical products to China as well as the launch of Xativa, its brand of medicinal cannabis in Australia.

The company said these plans were hampered by disruptions to the global supply chain last year due to worldwide border closures related to the Covid-19 pandemic.

Calling the capacity expansion a "major milestone" for the group, chief operating officer Janakan Krishnarajah commented that market response to iX Biopharma's wafer-based products has exceeded expectations.

"We have received significant interest from potential partners looking to distribute our wafer products. Based on our market experience and discussions with potential commercial partners, we are confident of a continued growth in demand for our products going forward," he said.

Shares of iX Biopharma closed 0.5 Singapore cent or 2.1 per cent higher at 24 cents on Wednesday, after the announcement.