iX Biopharma unit obtains Australia licence to bring product testing in-house

IX Biopharma on Monday said it has obtained a licence in Australia to bring its product testing in-house, improving speed-to market and potentially saving on testing costs.

The pharmaceutical company's wholly-owned subsidiary iX Syrinx got a Good Manufacturing Practice (GMP) licence from the Therapeutic Goods Administration of Australia for its testing laboratory located within its facility in Victoria, Australia, it said in a press statement.

The GMP licence permits the group to conduct chemical and analytical laboratory testing for its commercial and developmental products in-house. This includes raw material testing, stability testing and finished product testing - which are contracted to external third-party laboratories.

Thus, iX Biopharma will be able to increase its speed-to-market as the testing and quality control process will no longer be dependent on the schedule of these third-party testing laboratories.

iX Biopharma director of corporate and commercial strategy Eva Tan said the group is now able to shift its laboratory testing operations in-house and potentially save on testing costs.

"These capabilities also complement our fully integrated business model which includes drug development to manufacturing and supply," she added.

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The group completed the sale of its laboratory testing business under Chemical Analysis Pty Ltd, which included a GMP testing licence, for A$12.5 million (S$12.1 million) in March 2019.

Shares of Catalist-listed iX Biopharma closed flat at S$0.24 on Friday.