Audax Private Equity, an alternative investment manager and capital partner, has made a growth investment in Pyramid Laboratories, Inc., to support the continued growth of the company’s clinical and commercial biologics and advanced therapeutics manufacturing and service operations. 

Pyramid is a drug product contract development and manufacturing organization (CDMO). The company provides formulation development, analytical and stability testing, as well as aseptic fill-finish manufacturing services focused on large molecule therapeutics.

Medhat Gorgy, founder and CEO of Pyramid, said, “We are excited to partner with Audax as we embark on an exciting new chapter in our growth story. Audax’ track record of partnering with founders to accelerate growth in the healthcare space will strengthen our ability to service our existing customers, build new commercial relationships, and enhance our service offerings, while maintaining our commitment to quality.”

Pyramid focuses on high-growth specialties within the drug development and manufacturing process, including formulation development, lyophilization, aseptic fill-finish of biologics, and other analytical and stability services to both clinical and commercial customers, including GMP storage and distribution. Pyramid, in partnership with Audax, has committed capital to complete a planned expansion of its facilities that will grow vial-filling capacity by more than 30% and syringe filling by more than 50%, which is expected to come online later this year.

Keith Palumbo, co-president and senior managing director of Audax Private Equity, said, “Pyramid has established itself as a best-in-class partner to pharmaceutical companies globally for their development, testing, storage, fill-finish, and analytical testing needs. We have been impressed with the organization and team that Medhat has built over the last 35 years and are excited to partner with Pyramid on this next phase of growth.”

“Pyramid is a longstanding leader in the CDMO space and we look forward to this partnership with Medhat and his team, as the business scales its offering, capacity and geographic reach,” said Steve Weaver, managing director of Audax Private Equity.