Posted by Louise Prance-Miles | Jul 1, 2022 | Europe, Finance, Ingredients, North America |
THE WHAT? Croda has entered into a cooperative agreement with the United States government in which the government will provide up to US$75 million to expand the company’s US manufacturing capacity of ingredients for lipid systems used in novel therapeutic drugs, such as mRNA vaccines.
THE DETAILS As part of the company’s strategy to ‘Empower Biologics Delivery,’ Croda will also invest up to US$58 million, bringing the total project investment to up to US$133 million.
According to a press release, “The cooperative agreement is a joint award from the Biomedical Advanced Research and Development Authority (BARDA), part of Office of the Assistant Secretary for Preparedness and Response within the U.S. Department of Health and Human Services and the U.S. Department of Defense’s Joint Program Executive Office for Chemical, Biological, Radiological and Nuclear Defense (JPEO-CBRND) in partnership with the Army Contracting Command’s Joint COVID Response Division (ACC JCRD).”
THE WHY? The investment will be used to establish a new lipid facility as part of a new multi-purpose cGMP* site in Lamar, Pennsylvania. Construction is expected to start later this year, with the new capacity anticipated in 2025.
Daniele Piergentili, President of Croda Life Sciences, said: “We are grateful to the U.S. government for its support of Croda. The delivery technology based on lipid systems offers significant potential for the safe and efficient delivery of next generation vaccines and therapeutic drugs. As a result of this investment, Croda will be able to expand its capabilities to develop and manufacture ingredients in support of this important technology. This will help ensure that the U.S. is well prepared for future health emergencies and equipped to offer advanced treatments for some of the most prevalent illnesses in the world today.”
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