Astorg and International Chemical Investors Group (ICIG) have signed an agreement whereby Astorg will acquire CordenPharma, a contract development and manufacturing organization (CDMO) with differentiated capabilities in active pharmaceutical ingredients (APIs), excipients and drug products, from ICIG. As part of the transaction, the founders will take the opportunity to reinvest as partners with Astorg. The company has experienced strong organic growth thanks to its position in complex and fast-growing drug modalities including mRNA vaccines, peptides and high-potency compounds notably for oncology therapeutics.

Established in 2006, CordenPharma today employs more than 2,600 people in 11 manufacturing facilities and one R&D laboratory located across Europe and the U.S. The company serves more than 250 blue-chip pharma and biotech customers across five technology platforms: Peptides, Lipids & Carbohydrates (notably lipids for mRNA vaccines and therapeutics), Highly Potent & Oncology, Injectables and Small Molecules. As a key partner for the pharma industry, CordenPharma provides distinctive know-how, an integrated product offering and end-to-end capabilities from early-stage development to commercial large-scale manufacturing.

Following a strategic review of its portfolio, ICIG had concluded, that CordenPharma in its next growth phase would be best developed further with a partner and that ICIG would focus more on its chemicals portfolio.

“The transaction is the result of our thematic sourcing effort in pharma services,” said Judith Charpentier, partner and head of healthcare, Astorg. “We identified the company as a leading CDMO focused on some of the most promising areas of pharma R&D and with a strong customer focus and unique innovation capabilities.”

Michael Quirmbach, CEO, CordenPharma, said, “I would like to personally thank Patrick Schnitzer and Dr. Achim Riemann for their trust, support and commitment over the years in supporting CordenPharma’s growth and strategic vision to become a leading CDMO. Together with Astorg we will continue this exciting journey and further accelerate the growth as an organization across our 5 technology platforms.”