WellSpring Pharma Services Completes $3 Million Capital Investment and Forms New Partnership

OAKVILLE, Ontario–(BUSINESS WIRE)– WellSpring
Pharma Services, leading specialists in formulation, development and
manufacturing for a wide range of solid, semi-solid and non-sterile
liquid products, has announced a $3 million capital investment in new
equipment as well as a new strategic partnership with IDT
Australia Ltd. to manufacture drugs targeting the U.S. market.

The capital investment enables new, directly scalable capabilities in
smaller development-scale equipment; expanded manufacturing for
specialized dosage forms such as bilayer tablets; and improved support
for high-potency compound manufacturing.

“Our expanded capabilities include new expertise in process development
and manufacturing for earlier phased clinical trials as well as future
expansion of our large-scale manufacturing capabilities,” said David
Mayers, president, WellSpring Pharma Services. “We’re now better
equipped to offer our clients services from small-scale development and
scale-up to large-scale manufacturing, packaging and distribution.”

Among the equipment added during the capitalization were an
Alexanderwerk Roller Compactor; an IMA Precisa capsule weight checker; a
400 kg O’Hara Tray Drying oven; a Korsch XL 400 Tablet Press with
bilayer module; a Glatt GPCG 2/5 Fluid Bed Processor; an O’Hara Aqueous
Film Coater with 18” and 30” interchangeable pans; and a 5L Becomix
Counter sweep vessel.

Motivated in part by WellSpring’s expanded capabilities, IDT
Australia concluded a manufacturing and supply agreement to produce
several products at the WellSpring facility near Toronto, including
Pindolol, a cardiac drug with an estimated U.S. market value of $10
million.

WellSpring will be showcasing its capital expansion as well as its new
branding in booth 1212 at INTERPHEX in New York, April 26-28. Key
WellSpring executives will also be among the speakers at INTERPHEX with
three presentations on Wednesday, April 27.

For more information on WellSpring’s capabilities and to arrange a
meeting with company leaders at INTERPHEX, visit www.wellspringcmo.com.

About WellSpring
WellSpring provides formulation,
development and expert clinical supply to commercial and clinical
manufacturing for a wide range of solid, semi-solid and non-sterile
liquid products. WellSpring’s scientific experts, advanced equipment and
superior techniques go well beyond mere compliance in everything from
high-grade manufacturing to advanced packaging, logistics and
distribution. For more information, visit www.wellspringcmo.com.

About IDT
IDT (ASX:IDT) is a public Australian
pharmaceutical manufacturing company based in Boronia, Victoria,
Australia. IDT is commercializing a portfolio of 24 generic drugs to
manufacture and sell via US distribution partners. The company is also
exploring EU and Japanese sales opportunities. With IDT’s 2013
temozolomide ANDA filing, this signifies IDT’s move to rapidly become a
specialty generics business with near-term revenue build up. IDT has
extensive experience in the development and production of high potency
and high containment pharmaceutical products for local and international
clients. IDT’s facilities are fully cGMP compliant and are regularly
audited by the US FDA and Australian TGA. With an experienced team of
specialists within world‐class facilities, IDT provides a full‐scale
service for new drug development and scale‐up, commercial active drug
manufacture as well as a variety of oral and injectable finished drug
dose forms. Through CMAX, its clinical research services business based
at the Royal Adelaide Hospital in South Australia, IDT also provides
full Phase I clinical trials management and delivery, recruitment in
specific disease states for Phase II and Phase III trials as well as
offering trial packaging, distribution and pharmacy services from the
cGMP Boronia facilities.

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