AlphaVax has leased space on Meridian Parkway in Durham so that it can expand its manufacturing capacity for clinicl trial supplies.
AlphaVax said it secured the space from CMD Properties.
The company has launched its first clinical trial for its vaccine technology.
“AlphaVax has emphasized manufacturing know-how and capability as keys to our ability to advance our technology,” Peter Young, the company’s president and chief executive officer, said in a statement. “We have relied on outside manufacturing support up till now, but project demand from our partners has reached a point where we need to add capacity. That creates a strategic opportunity to integrate clinical stage manufacturing into the company’s in-house capabilities. This will complement our external manufacturing efforts and add considerable value to our partnerships by reducing the time and risk to take products into clinical trials.”
AlphaVax said it also plans to expand its staff by as many as two dozen people this year.
The company currently employs 51 people.
AlphaVax: www.alphavax.com
