May 26, 2020

POINT Biopharma to Launch First US Manufacturing Facility in Indiana

May 26,  2020 – INDIANAPOLIS - POINT Biopharma (POINT) announced plans today to  establish its first U.S. manufacturing facility in Indianapolis.

“Indiana has established itself as a  global leader in life sciences, ranking second in the nation for total  exports," Governor Eric J. Holcomb said. "We are grateful POINT  Biopharma chose to establish its first U.S. facility in Indiana, and we  remain confident that the state's pro-business environment and talented  workforce will allow the company to grow and thrive here as they work to  deliver life-saving cancer treatments for patients around the world."

POINT, which is based in Ontario, Canada,  will invest more than $25 million to purchase and transform an existing  77,000-square-foot, food-grade building at 4850 W. 78th St. in  Indianapolis into a state-of-the-art, Good Manufacturing Practices (GMP)  facility. The new building will allow POINT to quickly and  significantly expand its drug manufacturing operations, with plans to  annually produce and distribute more than 400,000 doses.

Additionally, POINT will purchase and  install custom equipment to establish manufacturing clean-room  facilities and enhance its packaging and distribution capabilities. The  company expects to move into its new space this year and to be fully  operational by 2021.

“We are pleased to establish our next  generation, high-tech manufacturing base in Indiana, a state with a  robust talent pool, a rich life science ecosystem, and an excellent  business-friendly environment," said Dr. Joe McCann, CEO of POINT  Biopharma. "By locating in the Crossroads of America, POINT will deliver  our products to patients from coast to coast within hours of  production, making a meaningful difference in patients’ lives."

“As one of only eight cities nationwide  with a specialized concentration of four of the five life sciences  subsectors, we can unequivocally say that Indianapolis is an industry  leader in health innovation,” said Indianapolis Mayor Joe Hogsett. “We  are excited for POINT Biopharma to join our city’s robust life sciences  ecosystem and proud to support organizations such as theirs on the  cutting edge of cancer treatments.”