RESEARCH TRIANGLE PARK – Flush with new cash, Kymanox is making a quick turnaround acquisition.
The Morrisville contract services organization has acquired Neuma, a drug delivery services provider founded in 2017 in King of Prussia, Pennsylvania.
The companies did not disclose terms of the transaction, though Kymanox said it funded the acquisition of Neuma.
The acquisition, Kymanox said, allows the company to “expand and diversify” its offerings in “complex drug delivery systems and cutting-edge medical device technologies.”
“Their location in the greater Philadelphia area, and their emphasis on supporting early-stage programs fills two important strategic needs,” Kymanox CEO and founder Stephen Perry said.
“Together, we will better support commercialization of vital medicines and treatments for people to live better.”
Neuma co-founder and President Nicholas Ciccarelli will now serve on the Kymanox leadership team.
The acquisition comes on the heels of Kymanox completing a “growth recapitalization” investment from Boston-based WestView Capital Partners last week.
“As we enter this next phase of growth together, Kymanox will expand the depth and breadth of our service offerings to meet the growing needs of our clients and the industry as a whole,” Perry said.
Founded in 2004, Kymanox offers engineering, scientific, and compliance support to companies exclusively in the biotechnology, pharmaceutical, medical device, and combination product industries.
“We are committed to our clients as they navigate modern medicine development from bench to patient,” Perry said.
“We know how to connect the dots to meet program challenges, and ultimately bring better products to patients.”