No bull here: ImmuCell moves ahead with expansion plans
A Portland-based animal health products manufacturer is moving ahead with expansion plans for production after it closed a public offering of 1.1 million shares to raise $5.3 million to fund the construction of a new facility to produce its drug Mast Out, which is the company’s treatment for mastitis, the most common disease affecting dairy cows across the globe.
“This is the first time we have a clear map to commercialization,” ImmuCell CEO Michael Brigham said in a telephone interview with The Bangor Daily News.
The early stages of construction for the production facility, which will be located on land behind ImmuCell’s current location, will begin this year.
Following the increased production of Mast Out, the company will begin to seek additional approvals required by the FDA to bring the drug to market. Bringham told The Bangor Daily News that he expects that process to be completed by 2019 at the latest.
With the added production capabilities, ImmuCell will be adding as many as six possible new jobs to its 46 employees as the expansion develops.
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