CordenPharma, a full-service CDMO, has announced its largest strategic investment to date with a committed spend of circa €900m (US$981m) over the next three years to grow its Peptide technology platform.
It plans two major expansion initiatives occurring in parallel in the US and Europe, including both existing facilities and new constructions designed and built according to 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 totalling around €3bn, with potential upsides.
The European expansion centres 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 fully-integrated within CordenPharma’s existing facility network.
In 2022, CordenPharma was acquired by European PE firm Astorg. Astorg’s growth plans for CordenPharma aim to help it reach sales of circa €1bn for its pioneering Peptide Platform, and around €1.8bn total group revenue by 2028.
“CordenPharma has a unique opportunity to reinforce its leadership position in peptides with unmatched capacity and performance in large scale manufacturing,” said Judith Charpentier, co-head Flagship Fund and head of Healthcare at Astorg. “We feel confident that our latest commitment will help the company seize this opportunity.”