OCYONBIO Announces Strategic Agreement with Marchesini Group USA for the Purchase of Filling and Packaging Equipment, Providing Vital Capabilities for Clients
Agreement brings CDMO Capabilities to OCYONBIO to Support Clients Sterile Filling Requirements and Provide cGMP Packaging and Inspection
AGUADILLA, Puerto Rico, Oct. 03, 2023 (GLOBE NEWSWIRE) — OCYONBIO, a contract development and manufacturing organization (CDMO) focused on advanced therapies, today announced a strategic agreement with Marchesini Group, a leading global provider of sterile filling and packaging solutions for pharmaceutical and Biotech companies. Under the terms of the deal, OCYONBIO will purchase filling and packaging equipment from Marchesini Group to support its clients’ sterile filling requirements for vials, syringes, and cartridges.
The initial equipment will arrive and be installed in Q4-2023; the rest will be commercial-ready by the first half of 2024. The strategic agreement has been made possible by a loan from the Puerto Rico Economic Development Bank (PREDB) with support from the Puerto Rico Department of Economic Development, DECA, and Invest Puerto Rico. After the program, OCYONBIO can fill, formulate, and package over 60 million units annually.
“This agreement is a game-changer for our clients,” said Robert Salcedo, CEO of OCYONBIO. “Not only will we have access to state-of-the-art filling and packaging equipment, but we will also have access to non-dilutive funding to support our growth. We are grateful for the support of Marchesini, the Puerto Rico Development Bank, the Puerto Rico Department of Economic Development, DECA, and Invest Puerto Rico.”
“We are pleased to partner with OCYONBIO to support their growth and mission to provide advanced therapies to patients,” said Marchesini Group USA Inc. Executive Vice President, Roger Toll. “Our packaging solutions are designed to meet the highest quality and safety standards, and we are confident that they will help OCYONBIO to deliver its products to the market quickly and efficiently.”
Non-Dilutive Funding for Clients
In addition to providing OCYONBIO with the latest filing and packaging capabilities, OCYONBIO will enable federally backed non-dilutive funding with support from the Puerto Rico Department of Economic Development. OCYONBIO’s clients can access the state-of-the-art equipment and services they need to bring their products to market without giving up company equity.
“We are committed to helping our clients succeed,” said Salcedo. “This non-dilutive funding is just one way we support our clients growth. We are looking forward to see what our clients can achieve with this new equipment and funding.”
Expertise, Training, and Reference Site
Marchesini Group will also provide OCYONBIO with expertise and training on the new equipment. Additionally, OCYONBIO will be a reference site for Marchesini’s global marketing campaigns. OCYONBIO’s customers can learn about Marchesini’s products and services from other companies using them successfully.
Support from DECA and Invest Puerto Rico
DECA and Invest Puerto Rico have also played a key role in supporting the strategic agreement between OCYONBIO and Marchesini Group USA. DECA has provided OCYONBIO with access to financial advice and the creation of the final package submitted to obtain PREDB funding. Invest Puerto Rico provided OCYONBIO the connection to PREDB and supported the application from initiation through approval.
“At the Puerto Rico Economic Development Bank (PREDB), our mission goes beyond financial support. We are dedicated to nurturing economic growth, empowering local businesses, and fueling innovation. Through strategic agreements like this one with OCYONBIO and Marchesini, opportunities are created that benefit our community, strengthen our economy, and drive Puerto Rico’s pharmaceutical industry forward. This agreement will allow OCYONBIO to offer its clients a complete range of CDMO services, facilitating the company’s growth and expansion. Furthermore, the non-dilutive funding provided Marchesini to OCYONBIO’s clients is a significant development, enabling them to bring their products to market more quickly and efficiently,” said Luis Alemañy González, President of the PREDB.
Humberto Mercader, Deputy Secretary for Strategic Initiatives at the Puerto Rico Department of Economic Development: “The strategic agreement between OCYONBIO and Marchesini Group is a major win for the Puerto Rico pharmaceutical industry. It is another step in the right direction, as Puerto Rico continues to build capabilities to perform all cycles of the drug development process, all the way to manufacturing. We have no doubt this will help to create jobs and boost the economy. We at DDEC, will continue to support projects such as this one, that create value and wealth for Puerto Ricans.”
Ella Woger, Invest Puerto Rico CEO: “This investment further strengthens Puerto Rico’s position as a bioscience hub. With landing pads such as the new state-of-the-art facility built by OCYONBIO, access to non-dilutive funding and top-notch STEM talent, the island is poised to become an R&D, innovation, and commercial hub for advanced therapies.”
“In these challenging economic times marked by elevated interest rates and stringent lending criteria, the steadfast support from the Puerto Rico Department of Economic Development Bank (PREDB) is not just beneficial—it’s pivotal for the sustained growth and vibrancy of our island’s economy. PREDB’s commitment to fostering the local business landscape by extending accessible and affordable capital is a vital catalyst for companies like OCYONBIO, enabling them to accelerate investment within Puerto Rico. We are confident that this collaborative effort, underscored by the PREDB’s invaluable support, will not only bolster OCYONBIO’s capabilities but also serve as a testament to the resilient and thriving business environment that we all are committed to nurturing in Puerto Rico,” said Aurelio Fuentes and Colton Wandke, Co-Founders & Partners, DECA Analytics, LLC
This agreement is a testament to the strength of the Puerto Rico pharmaceutical industry and the commitment of OCYONBIO and PREDB to supporting innovation and growth. Sterile Manufacturing CDMO will help R&D, Clinical, and Commercial clients.
For more information, contact OCYONBIO at [email protected]
Contact: Robert Salcedo, [email protected]
