ST Pharm has continued to secure large-scale orders for active pharmaceutical ingredients (APIs) used in oligonucleotide therapies, signing a series of major supply agreements.
The company announced that it has signed a supply agreement worth $66.1 million with a global biotechnology company based in the United States for oligonucleotide drug substances.
The contract is ST Pharm’s largest-ever single supply agreement for oligonucleotide APIs. The contract runs from this year through November 2027. The customer has not been disclosed due to confidentiality provisions in the agreement.
The contract is equivalent to approximately 27.5% of ST Pharm’s annual revenue of about $242.7 million last year.
ST Pharm has continued to secure large orders since the beginning of the year. The company signed oligonucleotide API supply agreements worth approximately $60 million in January and $65.7 million in March, followed by the latest $66.1 million contract.
The company has been expanding its production capacity to meet growing demand for oligonucleotide therapeutics. Last year, it completed an expansion of its second oligonucleotide manufacturing facility, strengthening its production capabilities for oligonucleotide APIs.
In addition to oligonucleotide APIs, ST Pharm operates a contract development and manufacturing organization (CDMO) business that provides services required throughout the drug development and manufacturing process, including process development, analytical services, and regulatory support for manufacturing changes.
An ST Pharm representative said, “We provide customized services ranging from early-stage development through process development, analytical work, and regulatory support for manufacturing changes. We will continue expanding our partnerships with global pharmaceutical companies and biotechnology firms.”
Meanwhile, ST Pharm has obtained topline results from a Phase 2a clinical trial of STP-0404 (pirmitegravir), a candidate HIV treatment, and plans to present the study results at a medical conference in October.