June 10, 2008 -- The Texas A&M University System, Austin-based Introgen Therapeutics, Inc. and its wholly owned spinout Introgen Technical Services, Inc. (ITS) today announced formation of a far-reaching alliance to develop and produce therapeutics, vaccines and delivery systems for human and veterinary applications. The alliance will work with the biopharmaceutical industry, academic researchers and government clients, including the biodefense and public health sectors.
Newly formed ITS, whose principal function will be to provide a steady inventory stream for parent Introgen Technical Services, a biopharmaceutical firm, also will concentrate on enhancing Good Manufacturing Practices protocols at Introgen’s various sites in Texas. Initially that includes two GMP facilities in Houston and future expansions elsewhere in the state. GMP standards, based on regulations from the U.S. Food and Drug Administration, require manufacturers of drug and related products to take proactive steps to ensure maximum safety and purity of their products.
Well maybe not. I'm sure they had a good answer for this:
I thought I'd travel back in time to recount for the investing public what Introgen has been promising and repeatedly failing to deliver with respect to applying to the FDA for approval of Advexin. It is truly astonishing to see how badly this company failed to deliver on its promises, and really makes one wonder how they are able to continue raising capital to keep the whole thing afloat. It is amazing how much "credit" biotech investors are willing to extend to management teams that have done nothing to deserve any credibility.
I mean, I'm sure they asked.