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Tergus Pharma announced a partnership with Great Point Partners and construction of a new commercial manufacturing facility in North Carolina.
Tergus Pharma, a service provider for topical pharmaceutical research, drug development, testing, and manufacturing, has partnered with Great Point Partners (GPP), a Greenwich, CT-based healthcare investment firm, the company announced in a June 6, 2019 press release. GPP’s investment will fund construction of new facilities, including a commercial manufacturing facility in the Raleigh-Durham, NC area.
Tergus currently provides topical formulation development, analytical services, and clinical trial materials manufacturing services for branded and generic dermatology products. With the addition of commercial capabilities, Tergus will provide comprehensive services from development through manufacturing and will become a contract development and manufacturing organization.
Construction of the commercial manufacturing facility will begin in July 2019. The 100,000-ft2 facility will be able to supply clinical trial material (Phases I through III) and commercial manufacturing capabilities. The facility, which will expand current capacity by over 400%, is expected to open in early 2020.
“Great Point’s expertise and successful track record growing pharmaceutical services companies was evident when they proactively approached us about a partnership. For years we have discussed building a commercial facility. The equity capital from GPP will enable us to do this and we will be able to better serve our customers by offering end-to-end services including commercial manufacturing,” said Vijendra Nalamothu, CEO of Tergus, in the press release.
Source: Tergus Pharma