Investors Gimv back the Netherlands-based CDMO BioConnection
The company, which is specialized in GMP-certified manufacturing of sterile drug products in vials and syringes, said the funding was supported by existing shareholders and its own management. The financial details were not disclosed.
Brabant Development Agency (BOM), one of BioConnection’s founding investors, chose to divest its shareholding, while existing investor, Pharming Group, reported that its minority stake of 43.85% in the CDMO will reduce to 22.98% following on from Gimv’s investment.
Pharming, which receives US$7.5m (€6.9m) net cash proceeds as a result of that stake reduction, said it continues to support the BioConnection, in terms of accelerating its growth strategy, together with Gimv and its other shareholders.
The fresh funds, said the CDMO, will be used to further strengthen its organization and infrastructure, to boost production capacity, quality control and enhance its innovation capabilities. In addition, it will be able to leverage Gimv’s vast network within the life sciences industry.
In 2021, BioConnection was granted GMP Certification for production of sterile drug products on a new large scale filling line, increasing its annual production capacity to up to 40 million vials for liquid products and up to 4 million vials for freeze-dried products. The new production line adheres to EMA and US-FDA quality guidelines.
Aseptic drug product manufacturing
In December last year, Nykode Therapeutics, formerly Vaccibody, selected the Dutch player to carry out the aseptic drug product manufacturing requirements for one of its vaccine candidates.
Nykode is developing vaccines and novel immunotherapies for the treatment of cancer and infectious diseases with a high unmet medical need.
Mette Husbyn, CTO of that firm, said the company chose to partner with BioConnection as the CDMO’s manufacturing capabilities matched the Norwegian company’s exact early phase clinical trial needs. “Moreover, BioConnection has an excellent broad manufacturing and regulatory track record, including EMA and FDA certification.”
BioConnection CEO, Alexander Willemse, added then: “Phase I trials usually require small batches of drug products that have to be delivered in a precise manner. Capitalizing on our years of experience, we offer automated filling in large volumes, up to 40 million vials per year, and importantly also manual fill and finish.”
