API maker Suanfarma invests in Spain-based CDMO Idifarma

A Spanish CMO is looking to expand and now has a new investor to help that happen.

Pamplona, Spain-based Idifarma announced Monday that Suanfarma, an API producer based in Madrid, had bought out some of the venture capital investors who helped Idifarma get started 15 years ago. Terms of the deal were not disclosed. Suanfarma bought out three VC investors, although two remain.

Idifarma specializes in high potency development and manufacturing and spray drying. The company was formed in 2001 and says it now has 100 pharmaceutical clients in Europe.   

Whitepaper

Simplify and Accelerate Drug R&D With the MarkLogic Data Hub Service for Pharma R&D

Researchers are often unable to access the information they need. And, even when data does get consolidated, researchers find it difficult to sift through it all and make sense of it in order to confidently draw the right conclusions and share the right results. Discover how to quickly and easily find, synthesize, and share information—accelerating and improving R&D.

Luis Oquiñena, a co-founder of Idifarma says said the deal represents a new growth phase for the CDMO. He said in a statement the deal will allow Idifarma to tap into Suanfarma’s business in the U.S., India, China, Brazil and Mexico.

“With a proven business model, Idifarma has huge growth potential and we plan to develop the CDMO’s percentage of international business, which already exceeds 50%," Hector Ara Sanz, CEO of the privately held Suanfarma, said in the statement.

Idifarma's GMP plant in Navarra, Spain, began by producing products for clinical trials but was approved in 2013 by regulators for larger batches. That included commercial batches of tablets with a high level of specialization, such as cytotoxics, cytostatics and hormonals. The plant also can also be used for small batches of commercial product, the company said at the time.

The deal comes as the CMO industry is consolidating, including deals involving companies in Spain. In June, Greek contract manufacturer Famar bought a plant in Leganes, Spain, that Roche had said it intended to sell or close.

Last year, Altan Pharma, an Ireland-based specialty drug company, bought GES Group, a Madrid-based company that sells generic injectables to Spain's hospital market. Terms of the arrangement were not disclosed, but Altan had received a €34.5 million ($38.7 million) investment for the deal from Ireland-based life science equity investor Malin.

- here’s the release

Related Article:
Spain's Idifarma sweats the small stuff
Spanish sterile injectable player gets snapped up
Roche offloads Spanish production site to CMO Famar

Suggested Articles

Fujifilm has completed the first manufacturing facility in Japan to make drug-delivering liposomes to use for cancer fighting drugs it is developing.

Three Samsung execs face up to two years in jail for their roles in destroying data and documents at under-fire affiliate Samsung BioLogics.

The FDA has slapped a U.S. drug repackager, saying in a warning letter that its storage processes and equipment cleaning are not up to expectations.