The licence will also increase the company’s speed-to-market as the testing and quality control process will no longer be dependent on the schedule of third-party testing laboratories.
As part of the GMP processes, every batch of raw material and finished product is rigorously tested to ensure compliance with the highest pharmaceutical quality standards prior to manufacture and market release, respectively.
On March 15, 2019, iX Biopharma sold its laboratory testing business under Chemical Analysis, which included a GMP testing licence, for A$12.5 million ($12.1 million).
Shares in iX Biopharma closed flat at 24 cents on September 25.
