Friday, 21 February 2020

Strides acquires USFDA approved manufacturing facility in the US

28 August 2019 | News

Strides acquires US FDA approved manufacturing facility in US from Micelle BioPharma for US$ 0.5 mn

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Strides Pharma Science Limited (Strides) has announced that its step  down  subsidiary  Strides  Pharma  Inc. (SPI)  has  acquired  a  USFDA (FDA)  approved  manufacturing  facility  in  Florida, US from Micelle BioPharma, Inc. 

Micelle’s facility is based in Riviera Beach, Florida and is one of the very few manufacturing facilities in the US with a soft gel capsule (SGC) manufacturing suite for formulations with containment needs.  It is also the only FDA approved integrated manufacturing‐packaging SGC facility in the US.  The site has undergone several successful FDA inspections and has no outstanding FDA observations.

SPI has acquired the manufacturing facility under an asset purchase agreement with Micelle Biopharma, Inc.  for  a  consideration  of  US$  0.5  Million  and  will  invest  up  to  US$  10  Million  to  build  incremental capabilities and add additional dosage formats. With the addition of the Florida site, Strides now has eight formulation sites globally catering to the regulated and emerging markets.



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