Biopharmaceutical contract development and manufacturing organization (CDMO), Experic, has seen increasing demand since opening its Cranbury, New Jersey facility in 2018. To aid in meeting that demand the company closed a $14b series B financing.
The $14m will be put to the continued expansion of clinical trial supply and service capabilities at the Cranbury facility. Experic constructed its Cranbury headquarters, a Class A cGMP research, manufacturing, and packaging facility in 2018 to fill the needs for small and mid-sized customers.
Since the construction of the Cranbury facility, Experic stated that the company has seen a growth in demand for formulation, development, manufacturing, and analytical services for hard-to-handle powder drug products.
In 2020, TFF Pharmaceuticals installed a thin-film freezing (TFF) processing line at the Cranbury facility. The TFF platform is suited to generate dry-powder particles for inhalation delivery. Through this partnership, Experic provided capabilities for development and production for TFF Pharmaceuticals products for various pharmaceutical companies.
At the time, the CDMO created a center of excellence for clinical development of low dose powders and drug product inhalation with technology from Harro Hofliger. Equipment supplier, Harro Hofilger, led the series B funding alongside East Seattle partners.
Earlier this year, Harro Hofilger joined excipients provider DFE Pharma and active pharmaceutical ingredient (API) manufacturer Sterling to establish Inhalation Together (INTO) to formulate dry-powder inhalation (DPI) solutions.