After generating ASCO fervor, Iovance unveils plans to build $75M cell therapy manufacturing plant
After causing a stir weeks ago with its ASCO abstract that hinted at the potential supremacy of its cell therapy for difficult-to-treat advanced cervical cancer, Iovance on Wednesday said it would invest millions in constructing a 136,000 square foot facility in Philadelphia.
Iovance expects to shell out some $75 million over three years for equipment and construction, which is expected to kick off in the coming weeks. Once completed, the facility will manufacture the company’s tumor infiltrating lymphocyte (TIL) products for several thousands of patients annually, and create several hundred jobs at full capacity.
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