[PRO] 8 Dalgleish St, Thebarton | Bridgewest Australia, Asia Pacific Centre for Excellence
Posted: Mon Oct 05, 2020 9:37 pm
Thebarton is set to host an Asia Pacific Centre for Excellence for biotech following a major deal
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US private investment company Bridgewest’s Australian arm has bought Pfizer’s biotech manufacturing site in Adelaide and has an ambitious transformation plan in the works.
The acquisition by Bridgewest Australia is part of the group’s long-term plans to establish a new Asia Pacific centre of excellence for biotech research and manufacturing.
The existing facility at Thebarton will be transformed into a bigger complete pharmaceutical contract development and manufacturing organisation (CDMO) to meet the needs of Bridgewest’s global clients across the various phases of drug development and manufacture.
The facility will be used to test microbial-based products, including proteins and vaccines from developmental stage through to commercialisation.
Hospira Adelaide, an affiliate of Pfizer, will remain in place to operate the facility under a leaseback arrangement from Bridgewest Australia Real Estate, until the second half of 2021.
Bridgewest will then takeover full operational responsibility for the facility, retaining majority of the skilled pharmaceutical employees from Pfizer with plans to boost the workforce in future.
Bridgewest Australia chief executive Ian Wisenberg said the company is “thrilled” with the group’s first acquisition in Australia.
“The site has all the trappings to be a significant player in support of the development and manufacture of therapeutics for our clients around the world,” Mr Wisenberg said.
“With investment from Bridgewest Group, we will be able to expand our capabilities and offering to become a force both locally and abroad,” he said.
Bridgewest also intends to add capabilities around Mammalian Cell production and, Cell and Gene Therapy.
The group said it will also look for additional merger and acquisition opportunities.
The pharma CDMO market was valued $US148.5bn in 2019, and is expected to reach $US224.9bn by 2025.
Trade and Investment Minister Stephen Patterson described it as a “big win” for SA’s biotech industry.
“It’s bringing to town a contract service provider who can develop and make new pharmaceutical products, including vaccines,” he said. “In retaining the majority of the highly skilled employees from Pfizer and with plans to boost this as the business expands, the centre of excellence will have the manufacturing capability, staff expertise, and supporting systems to execute current Good Manufacturing Practice (cGMP).
“With the growing global demand for COVID-19 vaccines on existing cGMP manufacturing facilities, there is a real need for qualified and well-equipped commercial cGMP facilities, which will put South Australia on the map for its capability in both clinical and commercial stage manufacturing.”
Bridgewest Australia is part of San Diego-based Bridgewest Group, which has investments in hi-tech and wireless technology, biotech and pharmaceuticals, real estate, banking and capital markets.