- CordenPharma is making a record investment of ~€900m over the
next 3 years in expanding its peptide platform, both at its
Colorado, US site and in
Europe. The expansions, covering
both existing facilities and new constructions, will meet the
pharmaceutical industry's most stringent quality and technical
standards for short and long peptide manufacturing, including BLA
requirements.
- The Colorado, US site's
expansion will target additional large-scale peptide manufacturing
capacity to meet the increasing demand of GLP-1 peptides, resulting
from multiple long-term manufacturing contracts totaling ~€3bn,
with potential upsides.
- In Europe, CordenPharma will
construct a greenfield site for small to large-scale peptide
development and manufacturing, integrated within its global
facility network.
- The company's major expansion plans will act as the driving
force behind CordenPharma's €1bn sales target for its Peptide
Platform by 2028, reinforcing it as a market leader in the
integrated supply of small to large-scale services from APIs to
Drug Products (for both Injectable and Oral Peptides).
BASEL,
Switzerland, July 16,
2024 /CNW/ -- CordenPharma has announced its largest
strategic investment to date with a committed spend of ~€900m over
the next 3 years to grow its Peptide technology platform. These
transformational plans consist of two major expansion initiatives
occurring in parallel in the US and Europe, including both existing facilities and
new constructions designed and built according to the
pharmaceutical industry's most stringent quality and technical
standards for short and long peptide manufacturing, including
Biologics License Applications (BLA) requirements.
The US expansion involves bringing additional Peptide capacity
to the CordenPharma Colorado site with the planned construction of
a new large-scale manufacturing facility, and an additional
increase in manufacturing trains in the existing facility. This is
the result of rapidly increasing demand in the Diabetes and Obesity
Glucagon-like Peptide 1 (GLP-1) agonist medications market, and
comes off the back of multiple, long-term, multiyear contracts
totaling ~€3bn, with potential upsides.
The European expansion centers on the construction of a new
state-of-the-art greenfield facility, with the aim of creating
additional Peptide capacity to serve customers from initial early
clinical to late-stage commercial manufacturing. The new site will
be located in the heart of Europe,
fully-integrated within CordenPharma's existing facility
network.
In 2022, CordenPharma was acquired by Astorg, a leading
Pan-European private equity firm, and its ambitious growth plans
aim to help the company reach their ~€1bn sales mark for its
pioneering Peptide Platform, and ~€1.8bn total group revenue by
2028. Upon completion, the new constructions will be fully
integrated within its outstanding network of world-class cGMP
manufacturing facilities, along with the dedicated technical and
regulatory support by expert teams needed to secure innovators'
supply chains with small to large-scale fully-integrated services
from APIs to Drug Products.
Dr. Michael Quirmbach, President
& CEO of the CordenPharma Group comments: "These investments
will profoundly strengthen our ability to provide valuable and much
needed support to innovators for the benefit of patients. We are
honored by the trust our customers have placed in us to deliver
expert outsourcing for large multiyear contracts, and our team is
proud to contribute decades of peptide manufacturing experience
towards these transformative new medicines. In addition, the strong
commitment and support of our shareholder Astorg demonstrates their
strategic vision for CordenPharma to become the leading CDMO for
complex modalities such as Peptides, by offering fully-integrated
end-to-end services from APIs to Drug Products (for both Injectable
and Oral Peptides)."
Dr. Signe Michel, Managing
Director at Astorg comments: "We are proud of what Michael and the
CordenPharma team have achieved through their striving for
operational excellence, customer service and ambitious growth. We
are excited about the opportunities ahead and to further strengthen
the company's peptide offering across the full drug lifecycle and
value chain."
Judith Charpentier, Co-Head
Flagship Fund and Head of Healthcare at Astorg comments:
"CordenPharma has a unique opportunity to reinforce its leadership
position in peptides with unmatched capacity and performance in
large scale manufacturing. With the company's proven track record
and our investor experience in pharmaceutical services, we feel
confident that our latest commitment will help the company seize
this opportunity."
About CordenPharma
CordenPharma is a CDMO partner supporting biotech and pharma
innovators of complex modalities in the advancement of their drug
development lifecycle. Harnessing the collective expertise of the
teams across its globally integrated facility network, CordenPharma
provides bespoke outsourcing services spanning the complete supply
chain, from early clinical-phase development to
commercialization.
With scientific expertise and partnership at its core,
CordenPharma provides customers high-value, end-to-end services
with a strategic focus on Peptides, Oligonucleotides, customized
Lipid Excipients, Lipid NanoParticles (LNPs), sterile Injectables,
and the extensive supply of Small Molecules (both Highly Potent and
Regular Potency).
The CordenPharma Group is comprised of 11 facilities across
Europe and North America. In the 2023 financial year, the
organization generated sales of €880 million and had over 3,000
employees.
Please visit cordenpharma.com for more information I Follow
CordenPharma on LinkedIn.
About Astorg
Astorg is a European private equity firm with over €22 billion
of assets under management. Astorg works with entrepreneurs and
management teams to acquire market-leading, global companies mainly
headquartered in Europe, providing
them with the strategic guidance, governance, and capital they need
to achieve their growth goals. Enjoying a distinct entrepreneurial
culture, a long-term shareholder perspective and a lean
decision-making body, Astorg has valuable industry expertise in
healthcare, software and technology, business services and
technology-based industrial companies. Astorg has offices in
London, Paris, New
York, Frankfurt,
Milan, and Luxembourg.
For more information about Astorg: www.astorg.com |
Follow Astorg on LinkedIn.
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SOURCE CordenPharma