KBI Biopharma Starts Cell Line Generation Process under Vendor Network Agreement for PER.C6®

DURHAM, NC – June 24, 2009 /PRNewswire/ -- KBI Biopharma, Inc. (KBI) announced today that it has started the process of performing cell line generation with Crucell’s PER.C6® human cell line platform, pursuant to the Agreement announced by Crucell, The Netherlands, on May 6, 2009. Under that agreement, KBI joins the Vendor Network as a U.S.-based pre-approved cell line generation partner for licensees of the PER.C6® cell lines.

KBI is a leading biopharmaceutical contract services company providing fully integrated drug development and biomanufacturing services to pharmaceutical and biotechnology companies globally.  KBI, based in Durham, NC, applies cell line generation, extensive protein characterization, manufacturing process development and clinical biomanufacturing capabilities to accelerate and optimize its clients' drug development programs. This comprehensive and integrated suite of services enables clients to bring drugs to market faster and more efficiently. KBI is recognized for its track record in advancing its clients' drug programs by developing scalable, robust processes that result in more stable, active products.

Joseph McMahon, President and CEO of KBI Biopharma notes, "We recognize the significant market interest in and adoption of this technology and are very pleased to now offer cell line generation using the PER.C6® cell line.” Mr. McMahon added, “Our KBI scientific team has extensive experience producing cell lines in microbial, insect and mammalian systems and are very pleased that Crucell and DSM have recognized our expertise by selecting KBI as a Partner for their Vendor Network.”

KBI is now proud to offer the PER.C6® technology as part of its extensive capabilities in cell line development.

Other terms of the agreement were not disclosed.

About KBI Biopharma, Inc.
KBI Biopharma, located in Durham, NC, is a leading contract development organization for the biopharmaceutical industry, working with companies across the globe focused on protein-based products. KBI delivers expert and integrated biophysical and biochemical protein characterization, formulation and process development and cGMP manufacturing of recombinant protein Active Pharmaceutical Ingredients (API’s). For additional information about KBI Biopharma please visit www.kbibiopharma.com.

PER.C6® technology

Crucell's PER.C6® technology platform has been developed for the large-scale manufacture of biopharmaceutical products such as recombinant proteins, including monoclonal antibodies. Compared to conventional production technologies, the strengths of PER.C6® technology lie in its excellent safety profile, scalability and productivity under serum-free culture conditions. By employing the PER.C6® human cell line with a proprietary process technology, a record yield of over 27 grams per liter in the production of IgG antibodies has been achieved.

Ballast Point Ventures Announces $7.4 Million Investment in KBI Biopharma

ST. PETERSBURG, FL., Feb 28, 2009 – Ballast Point Ventures ("Ballast Point") is pleased to announce a new growth equity investment.  Ballast Point led an investment of $7.4 million in KBI Biopharma (KBI), a leading biopharmaceutical contract services company that provides fully integrated, drug development and biomanufacturing services to global pharmaceutical and biotechnology companies.  KBI, based in Durham, NC, helps its clients accelerate and optimize their drug development programs by applying extensive protein characterization, process development and clinical biomanufacturing capabilities, enabling clients to bring drugs to market faster and more efficiently.  KBI is led by CEO Joe McMahon, a biotech services industry veteran.  Ballast Point Ventures’ minority investment will support KBI’s continued expansion of both existing and new service areas.

Richard J. Brandewie, Managing Partner of Ballast Point Ventures, commented that “After a number of years of closely following the biopharmaceutical services marketplace and extensive KBI-specific due diligence, we found that KBI consistently achieved extremely high levels of customer satisfaction, along with an industry-leading rate of growth.  Mr. Brandewie added, “KBI’s leadership in this area comes from its reputation for scientific excellence, along with its extensive track record of success.”

“It has been a great privilege for KBI to work with the highly capable teams of our biopharmaceutical clients around the world, in the development of such critically needed products”, stated Joe McMahon, President & CEO of KBI Biopharma.  “KBI is now very pleased to have Dick Brandewie and the entire Ballast Point group joining our team, as new and extremely capable partners in this important mission.  Through this investment, Ballast Point has recognized KBI’s current position as a leader in the industry, the value that KBI consistently delivers to its customers, and our tremendous potential for continued growth and accomplishment.” 

KBI currently provides contract biopharmaceutical services in the areas of analytical, formulation, and process development, as well as clinical manufacturing services for both microbial and mammalian products.  KBI is currently deploying a portion of this investment to expand its clinical-scale mammalian cell culture manufacturing.   Additionally, KBI Biopharma will be supplementing its current extensive formulation services, with expanded filling capabilities.

About Ballast Point Ventures
Ballast Point Ventures, a venture capital firm affiliated with Raymond James Financial, Inc. (NYSE-RJF), provides expansion capital for rapidly growing, privately owned companies in diverse industries, with a particular emphasis on companies located in the Southeast and Texas.  The BPV partners have many years of experience investing in and supporting over 75 high-growth companies in the healthcare, business services, communications, technology, financial services and consumer industries. Ballast Point Ventures has over $180 million under management and seeks to make minority equity investments ranging in size from $3 million to $10 million.

About KBI Biopharma