Posted: 19 April 2024
IDT Australia Limited (ASX: IDT) (IDT Australia) is pleased to announce that it has entered into a Master Service Agreement with Sanofi, an innovative global healthcare company, to support the preclinical formulation development and cGMP manufacture of Sanofi’s messenger RNA (mRNA) for its translational clinical program. The agreement allows flexibility for Sanofi to choose services from IDT Australia and allows for follow-on work packages. The value of the services to be provided under the initial order, which is nearing finalisation, under the Master Service Agreement is estimated to be between AUD $3 to 3.5 million (excluding costs relating to storage, shipping and any equipment purchase).
Under the terms of the Master Service Agreement, IDT Australia will collaborate with Sanofi to advance the formulation, and manufacture current Good Manufacturing Practice (cGMP) novel mRNA-based vaccines for clinical trials targeting a range of indications to support unmet medical needs.
The revenue from the contract falls under IDT Australia’s Advanced Therapies (AT) vertical and the contract with Sanofi supports the Company’s strategic vision to pursue higher-value contracts that require more complex formulations. IDT Australia has one of the few aseptic sterile fill (injectables) facilities to complete mRNA downstream processing in Asia Pacific.
Paul McDonald, the Chief Executive Officer of IDT Australia, commented:
“Through design and synthesis of novel molecules to novel formulations, IDT Australia is committed to the translation of medicine from bench to patient. We are constantly and actively investing in our capabilities to deliver complex formulation development of novel advanced therapies.
“We are thrilled to secure an agreement with Sanofi, progressing their groundbreaking science into cGMP manufacture to deliver mRNA product solutions to unmet medical needs. This collaboration with Sanofi underscores IDT Australia’s unique expertise and world-class facilities while reinforcing our position as a trusted partner in the global pharmaceutical industry.”
