CoreRx Acquires Nucelo Life Sciences
Acquisition Creates Unparalleled East/West Coast Development Presence in the US
CLEARWATER, FLORIDA, UNITED STATES, May 24, 2021 /EINPresswire.com/ — CoreRx, Inc. announced today the acquisition of Nucleo Life Sciences, a boutique CDMO based in San Rafael, California. Nucleo complements CoreRx’s development services and capabilities and provides a local site on the US West Coast for development services customers.
Nucleo enhances CoreRx’s offering in Fast-to-Clinic (ClinicFirst™) dosage form development, and enhanced formulations for molecules with challenging target profiles. Nucleo’s Fast-to-Clinic approach is differentiated in the market by utilizing formulation expertise and know-how combined with highly scalable equipment. For molecules facing bioavailability enhancement challenges, Nucleo has industry leading capabilities including spray-dried dispersions (SDD) and its proprietary NucleLoad™ technology.
CoreRx CEO Todd Daviau stated, “I’d like to congratulate the Nucleo team on building an exciting business, and I am thrilled to be joining forces. Nucleo is a perfect complement to the development capabilities of CoreRx. We are impressed by their presence on the US West Coast and are looking to accelerate growth of our combined business in the US on both coasts and beyond. In addition, we expect to provide our customers with seamless tech transfers for programs starting in San Rafael and scaling up with clinical and commercial production in Clearwater.”
Mark Menning, CEO of Nucleo Life Sciences, commented on the acquisition by saying, “It is an exciting opportunity for Nucleo to join the CoreRx team. The cultures of Nucleo and CoreRx are very similar – a strong customer focus and a commitment to industry-leading technology solutions. Together Nucleo and CoreRx are well positioned to support customers during all phases of clinical development through commercial manufacturing as a premier high-quality CDMO”.
Mark Menning will join CoreRx and take on the newly created role of Chief Scientific Officer.
Majority owner NovaQuest Private Equity, its affiliates, and certain other minority shareholders supported CoreRx in the acquisition.
Based in the San Francisco Bay Area, Nucleo Life Sciences is a boutique CDMO that is passionate about helping clients advance drug products into the clinic as quickly as possible. Our decades of experience from the client perspective with development and commercial launch experience enables this unique perspective. We believe good communication and project management is as important to the success of a project as good science. Our project management team is deeply involved at every step along the way to keep your project firmly on track. For more information, please visit www.nucleolifesciences.com.
About Core Rx:
CoreRx is a Contract Development Manufacturing Organization (CDMO) with capabilities to support clinical and commercial manufacturing needs. Our state-of-the art facilities support customers’ supply chain needs, and our integrated offerings provide comprehensive services for the development, manufacturing, and testing of solid, liquid and semi-solid dosage forms.
About NovaQuest Private Equity (now QHP Capital)
NovaQuest Private Equity is a leading investor in technology and services companies in the life sciences and healthcare sectors. NovaQuest was formed in 2000 with the vision of building an investment platform to provide strategic capital and operational leverage in partnership with strong management teams. The investment team consists of highly seasoned operational and investment professionals with significant investment experience and deep life science and healthcare expertise. Furthermore, NovaQuest benefits from an extensive network of industry experts and relationships that assist in identifying, analyzing, and growing NovaQuest portfolio companies and investments. For more information, please visit www.novaquest.com.