A biotechnology company has reached an agreement to make a drug for a large pharmaceutical company at the plant it’s building in Greenwood.
Elona Biotechnologies will make a generic drug for the unspecified drug company in addition to the lost-cost insulin it plans to manufacture in Greenwood. The second product will be a significant addition at the 50,000-square-foot manufacturing facility that’s now under construction, chief executive officer Ron Zimmerman Jr. said
Most importantly, a business arrangement with a major pharmaceutical company will give Elona validation, Zimmerman said.
“This licensing deal pretty much proves to the world what we’ve been saying all along,” he said. “It’s our Good Housekeeping Seal of Approval. Everything should go quickly now that it’s in place.”
Elona would make the drug in Greenwood, and the large drug-maker would license and market it. Zimmerman said he wasn’t at liberty to discuss details, such as which company or what type of drug.