iX Biopharma’s wholly-owned subsidiary iX Syrinx has obtained the good manufacturing practice (GMP) licence issued by the Therapeutic Goods Administration (TGA) of Australia for its testing laboratory in the state of Victoria on September 28.
With the new licence, iX Biopharma will now be able to conduct chemical and analytical laboratory testing for its commercial and developmental products in-house.
The licence will also increase the company’s speed-to-market as the testing and quality control process will no longer be dependent on the schedule of third-party testing laboratories.
As part of the GMP processes, every batch of raw material and finished product is rigorously tested to ensure compliance with the highest pharmaceutical quality standards prior to manufacture and market release, respectively.
On March 15, 2019, iX Biopharma sold its laboratory testing business under Chemical Analysis, which included a GMP testing licence, for A$12.5 million ($12.1 million).
Shares in iX Biopharma closed flat at 24 cents on September 25.
