#USA #St. Louis #Haverhill #1315 Capital #Codis

Codis Secures Growth Capital Investment

Codis, an advanced Contract Development and Manufacturing Organization (CDMO) specializing in commercial spray drying and the production of amorphous solid dispersions (ASD), has recently announced new funding from 1315 Capital, joined by contributions from existing investors BroadOak Capital Partners and Research Corporation Technologies (RCT). This financial support is aimed at expanding the company's commercial manufacturing capabilities, particularly focusing on its operations in Haverhill, UK.

Expansion to Meet Market Needs

With a production space of over 400,000 square feet distributed across its cGMP facilities located in St. Louis, Missouri; Seymour, Indiana; and Haverhill, Codis has positioned itself at the forefront of commercial scale spray drying and particle engineering. The increased funding will specifically support the enhancement of Haverhill’s capabilities, ensuring that Codis can effectively meet the rising demands of the pharmaceutical, nutraceutical, and over-the-counter health products markets.

Nicolas Fortin, the CEO of Codis, expressed enthusiasm over the recent investment, stating that it would empower the company to better scale its operations and cater to clients' growing requirements. “This partnership with 1315 Capital, alongside RCT and BroadOak, allows us to further develop our capacity,” Fortin remarked, emphasizing the importance of this expansion in supporting commercial supplies for customers.

Highlighting Industry Competence

The pharmaceutical industry has been witnessing an increasing need for innovative solutions in producing amorphous solid dispersions and drug substances. 1315 Capital's partner Matthew Reber referenced this trend, elucidating that spray-drying expertise has become essential in meeting these needs. The investment from 1315 Capital marks a significant step forward as Codis aims to enhance its manufacturing offerings in these competitive markets.

Furthermore, Shaun Kirkpatrick, President of Biotechnologies at RCT, highlighted Codis as one of the largest commercial spray-drying platforms globally, with an impressive output capability of over 5,000 metric tons of spray-dried products annually. This expansion not only reinforces Codis's existing foundation but also enhances its global presence, aimed at increasing efficiency and reducing lead times in supply chains for their clients.

Strategic Growth Plans

As Codis forges ahead, the strategic implications of this investment are clear. The enhanced facility in Haverhill is set to bolster Codis's global commercial network, seamlessly integrating with the company's operational capabilities in the United States and Europe. Derek Hennecke, Chairman of the Board, articulated that expanding operations in Haverhill would significantly impact their speed to supply, enabling them to react swiftly to market demands.

About Codis and Its Investors

Codis operates as a global leader in the CDMO sector, uniquely emphasizing commercial spray drying, particle engineering, and finished-dose manufacturing for various industries including pharmaceuticals and nutraceuticals. The company prides itself on combining extensive regulatory expertise and manufacturing acumen under a single brand umbrella, which has become vital in today's quality-conscious market.

On the investment side, 1315 Capital specializes in healthcare-related investments and manages over $1 billion in assets. Their focus on growth equity in the healthcare domain positions them well to support companies like Codis in scaling successfully. In addition, BroadOak Capital Partners, with extensive experience in the life sciences, and RCT, known for its investment in technology and development in the biomedical field, further enhance the strategic value of this consortium.

As Codis prepares for growth, the conglomerate of support from these reputable investors solidifies its path to innovation, allowing it to play a crucial role in transforming the landscape of commercial manufacturing for health-related products.

For more information about Codis, visit www.codis.com.

Conclusion

In conclusion, Codis's receipt of growth capital illustrates a promising advancement within the CDMO space, highlighting the increasing demand for sophisticated manufacturing solutions in healthcare. With the strategic boost from 1315 Capital, Codis is set to transform its operational capabilities, ensuring they remain a reliable partner for pharmaceutical and health product manufacturers worldwide.