Codis Secures Funding for Expansion
Codis, a leading contract development and manufacturing organization (CDMO) specializing in spray drying and related technologies, is excited to announce a significant growth investment from 1315 Capital. This partnership aims to bolster Codis's manufacturing capabilities significantly, particularly at its Haverhill facility in the UK.
Enhancing Manufacturing Capabilities
The latest investment from 1315 Capital, along with support from existing investors BroadOak Capital Partners and Research Corporation Technologies (RCT), will accelerate the expansion of Codis's manufacturing capacity. With a commitment to improving support for its clients, this move is expected to lead to enhanced production and service offerings for pharmaceuticals and nutraceuticals.
Current Manufacturing Footprint
Codis operates an impressive total of over 400,000 square feet of current Good Manufacturing Practice (cGMP) facilities across multiple locations, including St. Louis and Seymour. It boasts a diverse technology suite, including large-scale spray drying operations that are crucial for modern drug formulation techniques.
Growing Market Demand
Pioneering the field of amorphous solid dispersions and particle engineering, Codis addresses the increasing necessity for specialized spray-drying methods within the pharmaceutical industry. These techniques are essential for producing drug substances that require intricate formulations and enhanced solubility.
Leadership Remarks on the Investment
Nicolas Fortin, the CEO of Codis, expressed enthusiasm regarding the partnership with 1315 Capital, stating, "We're thrilled to welcome 1315 Capital alongside RCT and BroadOak; this investment enables us to expand capacity in Haverhill to better support customers scaling to commercial supply." This sentiment highlights Codis's commitment to enhancing its production capabilities.
Matthew Reber, a partner at 1315 Capital, emphasized the importance of such investments, noting, "The pharmaceutical industry increasingly needs spray-drying expertise to produce advanced formulations, and we are proud to partner with Codis in this expansion."
Expanding Global Reach
The strategic funding not only builds on Codis’s existing production strengths but also emphasizes the company's global reach, ultimately leading to shorter supply timelines for customers. This investment is seen as a pivotal step toward solidifying Codis’s position as a leader in commercial spray drying.
About Codis
Codis stands out as a premier global CDMO, offering a wide range of manufacturing services focused on spray drying, amorphous solid dispersions, and particle engineering. The company caters to the needs of the pharmaceutical, consumer health, and nutraceutical industries, leveraging decades of combined expertise to deliver high-quality products and services.
Frequently Asked Questions
What is the purpose of Codis's new funding?
The funding aims to expand Codis's commercial manufacturing capacity at its Haverhill facility in the UK to better support its customers.
Who are the investors involved in this growth capital?
The primary investor is 1315 Capital, with support from BroadOak Capital Partners and Research Corporation Technologies (RCT).
What services does Codis specialize in?
Codis specializes in spray drying, amorphous solid dispersions, particle engineering, and finished-dose manufacturing in the pharmaceutical and nutraceutical sectors.
Why is spray drying important for pharmaceuticals?
Spray drying is a crucial technology that enhances the solubility and bioavailability of drug substances, making it essential in modern pharmaceutical manufacturing.
What is Codis's manufacturing footprint?
Codis operates over 400,000 square feet of cGMP facilities across St. Louis, Seymour, and Haverhill, which enables efficient large-scale spray drying.
