German CDMO CordenPharma has inked a multiyear deal to manufacture large-volume peptides at its Colorado facility.
The agreement, which the company valued at a potential $1 billion, will support the launch of a new peptide. Details of the agreement or the name of the customer weren’t disclosed, CordenPharma said in a Jan. 10 press release.
Additionally, CordenPharma said it plans a more than $210 million (200 million euros) investment to expand its global operations in peptides, lipids, and injectables.
“We are very excited about the trust our customer has placed in CordenPharma, and are pleased to continue supporting the commercial manufacturing of this innovative peptide at our CordenPharma Colorado (U.S.) site, which is perfectly equipped for producing these types of complex molecules,” Dr. Michael Quirmbach, CordenPharma’s chief executive and president said in the release.
The company will expand its large and medium-scale peptide manufacturing capacity at its Boulder, Colorado and Frankfurt, Germany sites, Quirmbach added.
CordenPharma acquired the Boulder facility from Pfizer for an undisclosed price in 2017. At the time, the 54,000-square-foot facility had more than 100 employees and API production capabilities ranging from small scale up to 3,000 liters.