As part of the deal, CordenPharma’s founders plan to reinvest in the company. ICIG said a strategic review of its portfolio had indicated that the CDMO founded in 2006 would be better positioned with a partner.

The sale leaves the German investors group free to concentrate on its chemical assets, which include CMO WeylChem and PVC producer Vynova along with CarboTech, synthetic fiber composites maker Enka and Rütgers Organics.

At the beginning of 2022, rumors surfaced that the company with more than 2,600 employees at 11 manufacturing facilities and one R&D laboratory stretched across Europe and the US could be put up for sale.

Sources speaking to news agency Bloomberg at the time said they thought the CDMO could fetch as much as €2.5 billion. A number of big name private equity investors such as Bain, Blackstone, Cinven, EQT and Permira were expected to be interested in at least looking at the business.

According to ICIG, CordenPharma’s strong organic growth can be chalked up to its position in complex and fast-growing drug modalities including mRNA vaccines, peptides and high-potency compounds, notably for oncology therapeutics. In recent months, the CDMO has steadily expanded its base through acquisition and collaboration as well as spending on its own assets.

CordenPharma provides end-to-end capabilities ranging from early-stage development to commercial large-scale manufacturing for more than 250 blue-chip pharma and biotech customers across five technology platforms: Peptides, Lipids & Carbohydrates (especially lipids for mRNA vaccines and therapeutics), Highly Potent & Oncology, Injectables and Small Molecules.

Author: Dede Williams, Freelance Journalist