Argos Therapeutics, a company researching immuno-oncology drugs, said it’s planning to build a new production facility at an investment of between $5 million and $6.5 million to make its AGS-003 drug, a treatment of metastatic renal cell carcinoma, once its approved.
The company named AGS-003, rocapuldencel-T, it said in a statement late on Wednesday, summarizing highlights from an investor day. Rocapuldencel-T is currently in phase 3 clinical trials.
Argos is currently completing a lease agreement for 40,000 square feet of manufacturing and office space at the Center for Technology Innovation on the Centennial Campus of North Carolina State University in Raleigh, NC, to prepare for a biologics license application to the US Food & Drug Administration.
The company expects to invest an estimated $4 million to $5 million to ready the plant for production and an additional $1 million to $1.5 million in the next year or to complete a planned expansion.