CDMO Meridian Medical Technologies makes an investment in a production facility in Missouri.
Meridian is about to expand its production facility in the suburbs of St. Louis in Bridgeton, MO. The manufacturer will invest more than $100 million over the next 4 years in the facility. Lately it covers 155,000 square feet and plans to have filling and finishing functions for its CDMO business.
The new facility is expected to be completed in 2024 and has added around three hundred workers since last January, bringing its number to around 900. While the main express points about the expansion have not been revealed, Meridian will participate in a public works program that provides tax credits or withholdings for task creation efforts.
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RBC Capital Markets fitness generation analyst Sean Dodge highlights a new generation of generation providers who are transforming the way doctors deliver physical care and explores the key question: Can this fast-paced revolution topple the U. S. physical care system?USA?
Key points
Venture capital investment in biotech and the pharmaceutical industry hit a more than three-year low last quarter, as a prolonged market slowdown forced startups and investors to make decisions for the next step.
In the first quarter, venture capital firms invested just $4100 million in biotech and pharmaceutical companies, the lowest quarter overall since 2019, when they invested $4 billion, according to data from PitchBook, which tracks transactions. There is also less investment: 203 in the first quarter, the lowest figure since 2016.
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A South Korea-based insulin plants its flag in the mountains of West Virginia.
Governor Jim Justice announced that UNDBIO has signed a lease with West Virginia University to build an insulin production facility in the city of Morganthe City, WV.
UNDBIO, a manufacturer of insulin and insulin analogues, blood glucose tracking systems and monoclonal antibodies, plans to invest $100 million in the project, which is expected to generate around two hundred jobs in the first 3 years. In the first phase, UNDBIO plans to download FDA approval for its insulin product, with plans to expand after imaginable approval, Justice said in an announcement Wednesday.
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California-based biotech Acelyrin has filed for an initial public offering, a rare attempt to win inventory markets after a year of declining inventories and industry-wide cuts.
Acelyrin was founded through Horizon Therapeutics veterans in 2020, and licenses drugs or acquires drug owners, and then budgets for development. The startup raised a $300 million Series C last fall, plus a $250 million Series B in 2021. Valued at $800 million after the last round, according to PitchBook.
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Lux Capital closed its largest fund to date, at $1. 15 billion, in the eighth iteration of its capitalization practice.
The New York-based investment company is one of at least a dozen to unveil a new biotech budget this year, adding Wellington’s $476 million this morning.
In its announcement, Lux said investments can range from that first $100,000 check to the last $100 million before an exit.
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British banking giant HSBC was the first major player to step in to fill the void left by SVB’s abrupt collapse, buying the UK component of the business for a full £1 a month ago.
Now they are jumping the pond to opportunities in the United States, recruiting dozens of workers from the old SVB organization to create a new banking unit. And HSBC absorbs a diversity of skills that have spent decades building banking relationships deeply rooted in biotechnology.
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Catalent has begun the structure of a $20 million expansion of its clinical facility in Schorndorf, Germany.
The manufacturer is expanding the 32,000 square feet with plans to increase the capacity of the clinical trial source fabric garage and create an area to accommodate a new bottle filling line. The works are expected to be completed in June next year.
“Additional temperature-controlled handling, storage and distribution mean the facility is well stocked to meet the growing demand for clinical and regional source capacity, adding products that require bloodless chain support,” said Ricky Hopson, president and division chief. Clinical Development and Supply at Catalent, in a press release.
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Looking to move where Gilead is already and where AstraZeneca’s spouse, Daiichi Sankyo, is headed, Pyramid Biosciences has signed a pact for an antibody-drug conjugate TROP2.
Biotech in Bridgewater, New Jersey, is partnering with China’s GeneQuantum Healthcare to win GQ1010, which will enter a global clinical trial within 12 months, the corporations announced Thursday.
The deal marks an expanded concentration on oncology for Pyramid, where it already has a Phase I for actives, and as it seeks to marry a Phase II-ready dermatology drug candidate with a biopharmaceutical company in that space, CEO Brian Lestini told Endpoints News.
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Wellington Management has a new budget submission to play after its latest biotech-focused fund.
The company has created a fund of about $476 million called Biomedical Innovation II, it announced Thursday morning in a news release, about three-and-a-half years after ending its first fund. Wellington’s treasury, controlled through its biotech investment team, has already been deployed for 4 investments, according to the statement.
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