Resilience Will Close 6 of its 10 Plants
Resilience recently shared that capacity expansions have exceeded current industry demand. As a result, Resilience has begun consolidating its operations and streamlining its business strategy. This process includes winding down certain sites that are not being fully utilized, a step that is being conducted through legal proceedings initiated by a leaseholder affiliate.
Resilience, a technology-focused biomanufacturing contract development and manufacturing organization (CDMO), recently provided an update on its business strategy and financing in a letter to its customers.
Founded in 2020, Resilience has aimed to improve the pharmaceutical supply chain by enabling the production of complex, advanced medicines at scale within the United States. The company stated that it is now shifting its focus toward high-growth segments, specifically in advancing cell-based medicines, biologics, and aseptic drug product operations.
In an open letter, William S. Marth, President & Chief Executive Officer, shared, "To advance our transformation while continuing to serve our customers with excellence, it was determined that sites not being fully utilized needed to be wound down in a prompt and efficient manner through legal proceedings commenced by a leaseholder affiliate."
What's Next for Resilience
A spokesperson for Resilience confirmed that the company is closing operations at six locations, which include three sites in Massachusetts, as well as facilities in San Diego and Fremont, California, and Alachua, Florida.
Resilience will continue its manufacturing activities at sites in Toronto, Philadelphia, Research Triangle Park in North Carolina, and Cincinnati, which will serve as a central hub for its CDMO operations.
The company stated that a group of investors has provided $250 million in bridge financing to support the consolidation process. Additionally, Resilience is pursuing debt financing to support its future growth initiatives.
