TEDOR Pharma, Inc., a full-service, contract development and manufacturing company (CDMO) founded in 2001, has closed a recapitalization and reorganization of its business, funded by investments from DORA Ventures, Inc.

DORA Ventures is a newly formed investment vehicle, owned and controlled by Laura Iorio, chairwoman of TEDOR Pharma, and Doug Drysdale, president and chief executive officer of TEDOR Pharma. Ms. Iorio has served as chairwoman of TEDOR since 2009 and Mr. Drysdale previously served as chairman and chief executive of Pernix Therapeutics (PTX) and chief executive officer of Alvogen, Inc.

TEDOR Pharma develops and manufactures solid oral dose, and controlled substance formulations. TEDOR recently completed and qualified an expansion of its large-scale manufacturing capabilities at its facility in Cumberland, RI. The multi-million-dollar investment included the installation of additional multi-purpose cGMP manufacturing suites with large-scale, solid-dose manufacturing equipment.

“We are excited by this opportunity to provide valuable working capital to TEDOR. The company has undergone significant capital investment over the past two years. This recapitalization gives the new management team the fuel needed to drive growth and provide exceptional service to our customers,” said Ms. Iorio.

“The team at TEDOR has worked hard over the past two years to expand the world-class capabilities at our Rhode Island facility. We are now well positioned to leverage those efforts and capabilities in support of the new projects and new customers that are partnering with TEDOR,” said Doug Drysdale.