Portland biotech firm gets $500K loan from MTI

ImmuCell Corp. (Nasdaq: ICCC), a Portland biotech company that makes preventive health products for beef and dairy cattle, said it has received a $500,000 loan from the Maine Technology Institute that will help it boost its production capacity.

Production increases are planned for the company’s First Defense treatment for E. coli in newborn calves and to complete the development of Re-Tain, a treatment for a common disease in lactating cows that causes $2 billion in harm to the dairy industry annually.

The company is in the final stages of getting approval for Re-Tain from the U.S. Food and Drug Administration, according to ImmuCell’s website. It aims to ramp up production at a new 14,300-square-foot facility it has leased and renovated at 175 Industrial Way in Portland. Read more

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