NAMUR, Belgium, Oct. 26, 2016 /PRNewswire/ -- VolitionRx Limited (NYSE MKT: VNRX), today announced its acquisition of a new research and development facility located in the Crealys Science Park, Les Isnes in the Wallonia region of Belgium, an area popular with other leading biotech and pharmaceutical companies.
Belgian Volition expects to move into its new facility in March 2017. The move will give the Company the capacity to carry out clinical trials with additional Tecan machines and to expand its scientific team. The new custom-designed facility is divided into 9,000 square feet of officespace, and 10,000 square feet of tailor-made laboratory space. Currently, Belgian Volition occupies an approximate 4,000 square foot space.
Belgian Volition acquired the property for EUR 1.2 million, of which EUR 1.12 million was financed pursuant to a Real Estate Capital Lease Agreement with ING Asset Finance Belgium S.A. As part of the transaction, Belgian Volition granted ING a right of emphyteusis (a form of leasehold) on the property and ING granted Belgian Volition a 15-year lease over the property with an option for Belgian Volition to purchase the property outright at the end of the lease upon payment of EUR 33,600. The investment was also supported with the financial backing of Preface S.A./Namur Invest.
"We are looking forward to moving into our new R&D facility as we are exceeding maximum capacity at our current facilities. We believe that this exciting upgrade will allow us to accelerate our clinical trials and expedite the commercialization of our products" said Dr. Gaetan Michel, CEO of Belgian Volition, "I would like to thank Preface S.A./Namur Invest for all of their support to help make this option very affordable for a company our size."
The Company also announced that, effective November 2, 2016, Dr. Philippe Willemsen (PhD, MSc and BSc) has been appointed as Chief Operating Officer for its wholly-owned subsidiary, Belgian Volition SPRL. Dr. Willemsen brings with him eleven years of experience in the biopharmaceutical environment and cell therapy manufacturing. He joins Belgian Volition from Promethera Biosciences, where he has served as Senior Pilot Plant Manager since 2011. Dr. Willemsen received his PhD from the University of Liege, Belgium, where he also received his BSc and MSc. Dr. Willemsen specializes in molecular, cellular biology, and stem cells.
"We are delighted to welcome Philippe to the Belgian Volition team," said Dr. Michel. "He brings with him a wealth of experience and joins us at an exciting time as we prepare to launch our first Nu.QTM test. His appointment to manage operations in Belgium will allow me to focus on my role as global product manager for the Nu.QTM Colorectal Cancer Screening Triage Test (blood test), for which we expect to receive CE marking later this year. "
Volition is a life sciences company focused on developing diagnostic tests for cancer. The tests are based on the science of Nucleosomics®, which is the practice of identifying and measuring nucleosomes in the bloodstream or other bodily fluid – an indication that disease is present.
Volition's goal is to make the tests as easy and simple to use, for both patients and doctors, as existing diabetic and cholesterol blood tests. Volition's research and development activities are currently centered in Belgium as the company focuses on bringing its diagnostic products to market first in Europe, then in the U.S. and ultimately, worldwide.
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Last updated on: 26/10/2016
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