Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Transformed ICPbio Creating Wealth

October 31 2006

Media statement


Transformed ICPbio Creating Wealth

Statement based on addresses delivered at today’s annual meeting of
ICP Biotechnology Limited in Auckland

ICPbio’s new plasma fractionation facility will have the capability to convert a tonne of animal plasma, purchased as raw material at $3000 a tonne, into range of high value protein products valued at more than $250,000 on the international market.

At today’s annual meeting of the biotechnology company held in Auckland, shareholders were told the new state-of-the-art fractionation plant was “on track” to commence operations in mid November.

When fully operational in early 2007, the plant, the largest of its type in the world, will operate on a 24/7 basis and be capable of processing more than 12 tonnes of animal plasma a week.

Chairman Roger Gower told the meeting that by the end of the current financial year the company will be “well into profit, and consolidating its position as a global biotechnology provider”.

“We are creating wealth now, not at some future, yet to be determined date.”

He said “outstanding progress” had been made in transforming ICPbio from being a successful but modest New Zealand biotechnology company into a global manufacturer of quality biological products.

“We have quietly gone about putting in place the building blocks that will achieve success and create wealth.

“We are now operating in a world market valued at US$2 billion, and marketing our products to more than 40 countries in North America and South America, Asia and Europe.”

Managing Director Dr Earl Stevens said that the company had already added an additional 26 serum and plasma protein based cell growth and cell culture products to its foundation product range of 20.

“Key drivers of future revenue will be two streams of activity, one based around sterile filtration and the other fractionation of plasma.

“Both activities produce high value proteins that are the building blocks for human and animal health products.

“These activities in turn will lead us down the path of new molecules, active pharmaceutical intermediates and antibodies with pharmaceutical applications.”

He said the recent $402,000 Foundation for Research, Science and Technology grant received by the company would go towards developing new plasma protein products to control bleeding, and be supplied to companies making products for the human health market.

Dr Stevens described ICPbio as being at the “boring” end of the biotechnology spectrum in that is supplied the day-to-day products used by those at the cutting edge, and those engaged in the manufacture of animal and human health products.

“It is the commercially safe and dependable end, and is revenue positive. We combine low risk with potentially high return.”

At the meeting, independent director Alistair Ward, was re-elected, and Brent King and Grant Baker, associated with publicly listed Viking Capital, ICPbio’s second largest shareholder, were elected to the board.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>

ALSO:

Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>

ALSO:

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news