March 29 2012.
Biota (ASX:BTA) will expand its facilities in Melbourne to allow it to fulfil a $220m contract for the advanced development of a influenza antiviral in the US.
Biota (ASX:BTA) plans to expand its Melbourne facilities, in collaboration with the Victorian government.
The anti-infective drug development company plans to complete the expansion by 2014, to enable it to fulfil the US$231 million ($218.1 million) contract it won last year.
This deal, with the US Office of Biomedical Advanced Research & Development Authority (BARDA) tasks Biota with establishing US manufacturing and work towards FDA approval for its laninamivir influenza antiviral.
Laninamivir is single dose, long-acting neuraminidase inhibitor. The product is already marketed in Japan under the brand name Inavir.
Victoria's Minister for Technology, Gordon Rich-Phillips revealed that the government will support Biota in its efforts to expand the facility.
Rich-Phillips said the expansion will result in the creation of 35 new specialist jobs. Biota currently employs 85 people in Victoria, and also has a presence in the UK.
Biota shares closed Tuesday's trading 0.56% lower at $0.895.