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BFS technology deal expected to be finalized in Q1
Novo Holdings A/S, a private limited liability company, has acquired the RiteDose Corporation, a pharma company that specializes in blow-fill-seal (BFS) manufacturing and outsourcing solutions, for an undisclosed amount.
The deal is expected to close in Q1 of this year.
"We are excited and proud to be partnering with Novo Holdings,” notes Jody Chastain, CEO of RiteDose, who will continue to run the contract development and manufacturing organization (CDMO) under Novo Holdings' ownership. “We believe that Novo Holdings' experience and track record in healthcare and their commitment to supporting scientific, humanitarian, and social causes aligns well with our mission and will help us to deliver on our growth aspirations. Our focus has always been on honoring patients and the people who care for them, and we look forward to continuing to do so with Novo Holdings' support."
The past August, RiteDose made engineering changes that the CDMO says will allow it to increase production capacity by up to 25% over industry standards.