Specialty pharmaceutical company iX Biopharma has announced that it will expand its current wafer production capacity at its manufacturing facility in Australia.
The expansion follows the installation and commissioning of new freeze-dry production equipment, which the company says will boost the production of its WaferiX sublingual wafers by up to six times the current capacity.
iX Biopharma says it is on track to produce its first commercial batch of wafers in July and expects to benefit from “improved operational efficiency and economies of scale”.
The company had previously planned to scale up its wafer production capacity by April 2020 to meet rising demand following the expansion of its Entity brand of nutraceutical products to China and the launch of Xativa, its medicinal cannabis in Australia. However, these plans were hampered by disruptions in the global supply chain due to Covid-19.
See also: PhillipCapital 'remains confident' in iX Biopharma’s growth prospects upon China agreement
Dr Janakan Krishnarajah, COO of iX Biopharma, says the capacity expansion is a major milestone for the group. “The market response to our products, particularly the wafer-based ones like LumeniX and Xativa, has exceeded our expectations. We have received significant interest from potential partners looking to distribute our wafer products,” he says.
“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 adds.
Shares in iX Biopharma closed 1 cent or 4.08% lower at 23.5 cents on June 1.
