CDMO Experic, which offers development and manufacturing services for DPIs, announced that it has closed a $14 million series B funding led by East Seattle Partners and inhaler filling experts Harro Höfliger Packaging Systems. The company said that the new investment will go toward expansion of its facility in Cranbury, NJ, USA in response to “extraordinary growth in demand for its formulation, development, manufacturing, and analytical services for hard-to-handle powder drug products as well as its clinical trial supply and logistics services.”
Experic first announced plans for DPI development and manufacturing services at the Cranbury facility in 2018. In October 2020, the company said that it was adding a thin film freezing manufacturing line at the site.
Experic CEO and Chairman David Wood said, “Combined with organic growth, our family of series B investors are instrumental in helping Experic continue its growth trajectory, allowing us to add top talent and make capital investments to expand our capabilities. These partners are true supporters of Experic and our commitment to provide a better client experience to biopharmaceutical companies racing to develop innovative therapeutics for patients in need.”
Read the Experic press release.
