Kindeva Drug Delivery (“Kindeva”), a global leader in drug and device combination products, today announced the acquisition of Summit Biosciences Inc. ( “Summit”), an intranasal drug development and manufacturing organization (CDMO), with its founding family shareholders. Established in 2009, Summit has a long history of innovation in the unit dose nasal spray market. The Summit acquisition enhances Kindeva’s existing drug delivery capabilities by adding a new drug delivery platform, expanding its ability to serve biopharmaceutical customers across a broader range of complex drug and device combination products. (pulmonary, injectable, transdermal and nasal).
“ Nasal drug delivery is becoming a preferred dosage format for a growing number of indications, as it allows users to administer medications non-invasively in an acute or emergency setting,” says CEO Kindeva, Milton Boyer . “ Summit leverages its extensive knowledge of effective nasal drug formulation and its ability to manufacture them on a commercial scale. This addition not only aligns with Kindeva’s ambition to be a global leader in the CDMO market for drug and device combination products, but it also expands the toolbox we can offer our customers to help them improve outcomes. patients and the experience of care globally. »
Richard D. Cohen, Immediate Past Chairman and CEO of Summit, added: “ Joining Kindeva strengthens our ability to develop and manufacture best-in-class nasal products. Under Kindeva’s leadership, our dedicated and talented staff will continue our founder’s vision of increasing the availability of nasal drug delivery options. »
Summit’s 55,000-square-foot, GMP-compliant facility in Lexington, Kentucky, adds to Kindeva’s nine development and manufacturing facilities across the United States and the United Kingdom -United. The site is approved by the United States Food and Drug Administration (FDA) and the European Medicines Agency (EMA); likewise, it has specialized laboratories and integrated manufacturing processes that have proven themselves in bringing intranasal drugs to market.
Kirkland & Ellis served as legal advisor to Kindeva. Frost Brown Todd acted as legal advisor and Bourne Partners served as exclusive financial advisor to Summit.
About Kindeva Drug Delivery
Kindeva is a global contract development and manufacturing organization specializing in drug-device combination products. The Company develops and manufactures its products in a wide range of complex drug delivery formats, including injectables, transdermal, pulmonary and nasal patches. Its service offering extends from early stage feasibility to commercial-scale filling and finishing of pharmaceutical products, manufacturing of packaging closure systems and assembly of pharmaceutical products and of devices. Kindeva serves a global customer base from its nine manufacturing, research and development sites located in the United States and the United Kingdom. For more details, visit www.kindevadd.com .
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