CRANBURY, New Jersey, October 29, 2024 (Business Wire) – Experic, a contract development and manufacturing organization (CDMO) and clinical trial supply services company serving the biopharmaceutical industry, today announced a significant growth capital investment led by 1315 Capital, a Philadelphia-based, growth equity firm focused on healthcare, with participation from its existing investors including East Seattle Partners, Harro Höfliger Packaging Systems, Inc. and Kineticos Ventures.
The new capital injection will enable Experic to further enhance its cutting-edge manufacturing capabilities, accelerate its international expansion plans, and support its mission to deliver high-quality, agile services to the biopharmaceutical sector. As the biopharmaceutical industry continues to evolve, this partnership with 1315 Capital positions Experic to meet the growing demands for advanced drug development, manufacturing, and clinical trial supply solutions.
“We are excited to join the 1315 Capital portfolio. The firm’s deep expertise in healthcare and proven track record for strategic investments align with our vision for Experic’s growth and expansion of technical capabilities,” said David Wood, CEO and Chairman of Experic. “This investment will empower us to continue delivering innovative solutions and white glove service that meet our clients’ needs while expanding our footprint in the global biopharma market.”
“Biopharmaceutical companies are increasingly relying on specialized partners to help develop and manufacture their innovative products. Experic’s differentiated expertise, including its unique capability handling low dose powders, and flexible, customer orientated approach address a growing need in the market,” said Matt Reber, Partner at 1315 Capital. “We are excited to partner with Experic as they continue to expand their capabilities and global reach.”
About Experic
Experic is a contract development and manufacturing organization (CDMO) and clinical trial supply services company specializing in development and manufacturing services for biopharmaceutical and pharmaceutical companies. Known for its cutting-edge capabilities and customer-centric approach, Experic offers a comprehensive suite of services designed to accelerate the development and commercialization of innovative therapies across a range of packaging and finished dose modalities, including dry powder inhalation (DPI) products. Leveraging our state-of-the-art cGMP facility, we manage global delivery of the highest quality products and services, even for expedited projects, while providing unparalleled knowledge, expertise, and customer service. For more information, please visit www.expericservices.com.
About 1315 Capital
1315 Capital is a private investment firm with over $1 billion of assets under management that provides growth capital to commercial-stage healthcare services, pharmaceutical & medical technology outsourcing, medical technology, and health & wellness companies. 1315 Capital targets both minority and majority investments in companies where high-quality management teams can rapidly scale platform companies into large and important businesses that positively impact patients, physicians, and the broader healthcare system. For more information, please visit www.1315capital.com.
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