CDMO Tedor Pharma recapitalizes following multi-million dollar investment

17-May-2018 - Last updated on 17-May-2018 at 19:25 GMT

(Image: ozayo)

The newly-formed investment firm DORA Ventures has recapitalized Tedor Pharma, which recently completed a multi-million-dollar expansion of its manufacturing capabilities.

Tedor Pharma is a contract development and manufacturing company (CDMO) founded in 2001.

The company yesterday announced the closing of the recapitalization and reorganization of its business funded by investments from DORA Ventures, which is owned and controlled by Laura Iorio, chairwoman of Tedor Pharma, and Doug Drysdale, president and CEO of Tedor Pharma.

"The recapitalization was undertaken to give Tedor a strong operating runway," Drysdale told us. "The next steps for Tedor are to leverage the capital investments made over the past two years to expand production capacity."

The Cumberland, RI-based CDMO recently completed a multi-million-dollar expansion of its large-scale manufacturing capabilities. The investment included the installation of new multi-purpose cGMP manufacturing suites.

"We are already seeing an increase in volumes and projects from existing customers and our business development efforts continue to create new opportunities," Drysdale said.