#United States #St. Louis #1315 Capital #Codis #commercial manufacturing

Codis Gains Growth Capital for Manufacturing Expansion

Introduction
In a significant move to bolster its manufacturing capabilities, Codis, a Contract Development and Manufacturing Organization (CDMO) that specializes in commercial spray drying and particle engineering, has announced a strategic growth investment from 1315 Capital. This funding round, which also saw participation from existing investors BroadOak Capital Partners and Research Corporation Technologies (RCT), aims to accelerate the expansion of Codis's commercial manufacturing capacity, particularly focusing on its facility located in Haverhill, UK.

Company Background
Codis operates extensive cGMP facilities exceeding 400,000 square feet across three sites in the U.S. and U.K., including St. Louis, Missouri; Seymour, Indiana; and Haverhill, UK. With a production capacity of over 5,000 metric tons per year, Codis is a major player in the spray drying segment, catering to pharmaceutical, consumer health, nutraceutical, and Over-The-Counter (OTC) markets. The ability to produce amorphous solid dispersions and functional excipients is critical in meeting growing market needs.

Catalyst for Growth
The current investment is seen as instrumental in enhancing the company's manufacturing capabilities to support growing customer demands for commercial supply. According to Nicolas Fortin, CEO of Codis, this investment positions the company to better serve its customers by augmenting capacity in Haverhill, which is essential for scaling up production.

Matthew Reber, a partner at 1315 Capital, remarked on the increasing need for pharmaceutical companies to leverage the advantages of spray-drying technologies, emphasizing their importance for the production of complex drug formulations.

Strategic Partnerships
The addition of 1315 Capital not only brings financial backing but also enhances Codis’s strategic partnerships in the healthcare sector. Both BroadOak Capital and RCT bring significant market experience and investment acumen, helping Codis to build robust operational frameworks as it expands its capabilities. Shaun Kirkpatrick, President of Biotechnologies at RCT, noted Codis's position as one of the leading commercial spray-drying platforms worldwide, underscoring the importance of this investment in furthering Codis's growth trajectory.

Market Dynamics
As the pharmaceutical industry evolves, so does the demand for advanced manufacturing practices that include tailored drug delivery systems. With the pressure to bring innovative therapies to market faster, companies like Codis find themselves at the forefront of providing critical manufacturing services that align with these market requirements. By significantly enhancing its capacity and operational framework, Codis aims to minimize the time to market for its clients, a factor that can substantially influence their competitive positioning in the industry.

Conclusion
The investment from 1315 Capital represents a cornerstone in Codis's development strategy, paving the way for expanded operational capacity and market reach. As companies navigate the choppy waters of pharmaceutical manufacturing, forging strategic partnerships and securing funding will be crucial for growth and advancement in a rapidly changing marketplace. Codis's focus on innovation and quality through this expansion is a testament to its commitment to delivering high-quality development and manufacturing solutions in the life sciences sector. Moving forward, Codis is poised to strengthen its operational network and support emerging market trends with agility and expertise.

About Codis
Codis is a leading CDMO that specializes in spray drying, amorphous solid dispersions, and finished dose manufacturing for pharmaceutical applications. The company operates state-of-the-art cGMP facilities and has extensive experience in the biotechnology and pharmaceutical sectors. For more information, visit www.codis.com.

About 1315 Capital
1315 Capital is a healthcare-focused private equity firm that manages over $1 billion in assets, specializing in growth equity and corporate carve-outs in the healthcare landscape. Learn more at www.1315capital.com.

About BroadOak Capital Partners
BroadOak Capital Partners is a financial institution dedicated to investing in life sciences, providing investment banking services to growth-stage companies. More details can be found at www.broadoak.com.

About Research Corporation Technologies
Research Corporation Technologies (RCT), based in Tucson, Arizona, specializes in investment management for life sciences. With over $500 million in managed assets, RCT focuses on advancing innovative technologies in the biotech field. Visit www.rctech.com for additional information.