Novel and generics pharma producer OncoGenerix and Alpha Capital LLC have agreed to build an injectable pharmaceutical factory in the USA. The output capacity of the project is expected to reach 20 million vials of injectable oncology products and vaccines, the company announced today. The production facility will be similar to the one that OncoGenerix currently operates in China.
Earlier this year, Alpha Capital, LLC launched an international capital raise to secure a substantial stake in OncoGenerix, which recently completed an innovative pharmaceutical factory in Mudanjiang Province, China. The offering is a first-of-its-kind digital investment opportunity – tokenized ownership of a pharmaceutical facility. Alpha Capital, LLC is offering up to 500 million ONGX Tokens at USD $0.12 per token. 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..
Traditionally, independent investors have had a tough time entering the pharmaceutical space as building pharma production capacity takes substantial investments of financial capital and time. Individual investors were, typically, 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
“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,” 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.