Dendreon plans $50M expansion of New Jersey plant
Dendreon expects to spend up to $50 million to expand its therapeutic biotechnology processing facility in Morris Plains, New Jersey, the...
By Seattle Times business staff
Dendreon expects to spend up to $50 million to expand its therapeutic biotechnology processing facility in Morris Plains, New Jersey, the company said Monday in a regulatory filing.
The Seattle biotech, which is seeking Food and Drug Administration approval for its prostate-cancer immunotherapy, Provenge, has hired The Henderson Corp. to manage construction of a two-phase expansion of its Morris Plains facility. The plant is where a patient's immune cells would be processed to increase their ability to fight prostate cancer, before being re-infused into the patient.
Additional quality control laboratories, data center, training areas, infrastructure and offices are scheduled to by done by mid-December. The final phase, with additional manufacturing clean-room work stations, production support areas, warehouse, infrastructure and offices, is to be substantially complete by April 23 of next year.
Dendreon finished the initial build-out of its 158,000-square-foot facility in July 2006, before its FDA application was tabled to await additional clinical results.
Last month Dendreon raised net proceeds of $221 million by selling nearly 12 million shares at $19.20 apiece.
Copyright © 2009 The Seattle Times Company
UPDATE - 09:46 AM
Exxon Mobil wins ruling in Alaska oil spill case
UPDATE - 09:32 AM
Bank stocks push indexes higher; oil prices dip
UPDATE - 08:04 AM
Ford CEO Mulally gets $56.5M in stock award
UPDATE - 07:54 AM
Underwater mortgages rise as home prices fall
NEW - 09:43 AM
Warner Bros. to offer movie rentals on Facebook