Kindeva, a CDMO focused on drug delivery devices, hauled in a 33 million pound sterling ($42.1 million) grant from the U.K.’s Life Sciences Innovation Manufacturing Fund that will be used to bolster the company’s inhaler production and sustainability efforts.
The company plans to deploy the funds to develop next-generation, sustainable inhalers plus other therapies for respiratory diseases, Kindeva said in a release last week.
The grant is part of the U.K.’s efforts to support the development and production of inhalers using new, lower global warming potential propellants.
Kindeva has facilities located in Loughborough and Clitheroe, U.K.
“This investment provides Kindeva with a springboard to expand our capabilities and capacity, while simultaneously partnering with leading pharmaceutical companies around the world to bring the next generation of green inhalers to market,” Chief Commercial Officer David Stevens said in the release.
Formerly known as 3M Drug Delivery Systems, Kindeva was purchased by healthcare investment firm Altaris for $650 million in 2020.
Then, in November, the company merged with Meridian Medical Technologies, a former Pfizer unit. In April, the company said it would spend $100 million over four years to expand and upgrade its St. Louis-area facility.