Avid Bioservices Begins Phase 2 of Myford Mfg. Expansion

Avid Bioservices, Inc., a biologics CDMO, initiated the second phase of expansion of manufacturing capacity at its Myford facility. The build out of the Myford facility will include a second manufacturing train with both upstream and downstream processing suites, known as Myford South. 

The company expects the Myford South build out to take 18 to 24 months to complete at a cost of approximately $45 million to $55 million. Upon completion, Avid estimates that the addition has the potential to increase the company’s annual revenue generating capacity by an additional $100 million.

The ongoing Phase one expansion, which adds production capacity of the existing manufacturing train at the Myford facility (Myford North) by adding a second downstream processing suite, was initiated in 4Q20. The company estimates the first phase will take approximately 12 to 15 months to complete at an estimated cost of approximately $15 million and may increase the company’s annual revenue generating capacity by an additional $50 million.

“With the continued strong growth that we have experienced in both revenue and customer demand in recent months and quarters, we feel that Avid is in a strong position to kick off the second phase of our Myford facility expansion,” said Nicholas Green, president and chief executive officer of Avid Bioservices. “Upon completion, Myford South will serve as a valuable complement to our existing Myford North manufacturing suites, allowing Avid to continue to provide capacity for both our existing customers, as well as being able to onboard new clients in a timely manner and meet the ever increasing demand for quality CDMO services within the biologics industry.”