Ampio breaks ground on new manufacturing facility in Denver Tech Center

By: InnovatioNews Thursday January 16, 2014 0 comments Tags: Ampion, April Giles, Greenwood Village, Ken Lund, Michael Macaluso

GREENWOOD VILLAGE - Ampio Pharmaceuticals Inc. (NYSE MKT: AMPE) announced it has broken ground on a new state-of-the-art manufacturing facility for its lead drug candidate, Ampion, for the treatment of osteoarthritis of the knee.

The new facility will be located in the Denver Tech Center and is expected to be ready by summer 2014. The facility should generate about 40 new jobs over the next two years, Ampio said.

"Bioscience continues to be a key industry in Colorado and an important part of our advanced industry growth," said Ken Lund, executive director of the Colorado Office of Economic Development and International Trade.

"We are pleased that Ampio Pharmaceuticals has chosen to increase its employee base and capital investment in Colorado."

"We congratulate Ampio Pharmaceuticals on their decision to locate their new manufacturing facility in the Denver Tech Center," said April Giles, president and CEO of the Colorado BioScience Association.

"Ampio Pharmaceutical's decision to grow their company in Colorado and to focus on innovative methods of treating patients with debilitating medical conditions has served the company and the community well."

"The construction of this manufacturing facility will accomplish a major milestone for the commercialization of Ampio's lead drug," said Michael Macaluso, Ampio chairman and CEO.

"The facility will have an annual production capacity of approximately 10 million doses of Ampion. More than 50 percent of the source material - human serum albumin, or HAS, needed to meet this capacity - has already been secured through a long-term, non-exclusive supply agreement as previously announced."