SAN DIEGO — Synbiotics signed an $8.5-million limited research and development contract Monday that could generate 11 new products during the next three years, as well as double the size of its plant and professional staff.
The contract was funded by PruTech Research and Development Partnership II, a California limited R&D partnership, and PruTech Project Development Partners, an institutional and corporate partnership. San Jose-based R&D Funding Corp., an affiliate of Prudential-Bache Securities, is the general partner in both partnerships.
Synbiotics will use the $8.5 million to develop 11 specific products and will retain the right to manufacture and sell those products, according to Edward T. Maggio, president and chief executive of the San Diego-based veterinary and human health care products company. Synbiotics, whose products are based on monoclonal antibody technology, "will be able to acquire (the products) outright after a period of time," he added.
The contract may require doubling the size of Synbiotics 4,000-square-foot manufacturing facility in Rancho Bernardo and eventually boost the company's 20-person professional staff to between 45 and 50 people, Maggio said Monday.