Novel and generics pharma producer OncoGenerix and Alpha Capital LLC are launching a new injectable pharmaceutical factory in the US, both companies announced in a press release. The new production facility will be similar to the one that OncoGenerix already operates in China, the company stated. Alpha Capital LLC also said it is considering a Georgia Opportunity Zone as the location for the new plant. The output capacity of the new project is expected to reach 20 million vials of injectable oncology products and vaccines. OncoGenerix has recently completed a state-of-the-art pharmaceuticals factory in Mudanjiang Province, China.
The announcement follows an international capital raise that Alpha Capital, LLC initiated in May. The offering is a first-of-its-kind digital investment opportunity, which includes tokenized ownership of a pharmaceutical facility. Alpha Capital, LLC said it is offering up to 500 million ONGX Tokens at US $0.12 per token and a US onshore offering of shares in Alpha Capital’s special purpose vehicle. The ONGX Tokens are built on the ERC20 blockchain protocol, serve as a SAFE (simple agreement for future equity), and will be exchangeable at the option of the investor for equity-token securities..
“Our joint work with OncoGenerix is helping to bring new pharma production capacity to US soil. The planned facility will be able to alleviate substantial shortages, as well as increase injectable–liquids and vaccines–manufacturing capability. It’s been hard in the past for independent investors to enter the pharmaceutical industry as building pharma production capacity takes substantial investments of financial capital and time. Individual investors typically were only able to access this vertical via publicly traded securities. The ONGX Token makes it possible for individual investors to step in earlier, while reducing the investment ticket size by orders of magnitude,” said Alpha Capital LLC’s co-founder and CEO Colin Breeze.
“We are excited to extend our manufacturing capacity to the United States together with Alpha Capital and look forward to helping solve existing oncology drug shortages to support the US market,” said Oleksandr Zabudkin, CEO of OncoGenerix.
OncoGenerix’s manufacturing services include technical transfer, process development, scale-up, equipment and process validation, formulation, filling, lyophilization, inspection, labeling, and packaging. OncoGenerix combines sterile drug manufacturing to deliver compliant and cost-effective drug production.
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