New capital secures growth acceleration in services for small to medium sized biopharmaceutical companies and further enhancement of quality control and innovative power
Oss, The Netherlands, 22 April 2022
BioConnection, an independent CDMO (Contract Development Manufacturing Organization) based in Oss, The Netherlands, specialized in GMP-certified manufacturing of sterile drug products in vials and syringes, today announced the completion of a new capital raising led by the European investment company Gimv, and supported by existing shareholders Pharming Group N.V., Mibiton and BioConnection’s own management. Financial details were not disclosed. Brabant Development Agency (BOM), one of BioConnection’s founding investors, chose to divest its shareholding.
The proceeds of this fresh funding will be used to help accelerate BioConnection’s new growth by further strengthening of its organization and infrastructure, and enhancement of production capacity, quality control and innovative power. In addition, BioConnection will be able to leverage Gimv’s vast network within the life sciences industry.
Over the years BioConnection has developed into an all-round CDMO, perfectly scaled for servicing small to middle sized biopharmaceutical companies in the development and manufacturing of both larger volume one size-fits-all treatments, but since recently also targeted precision therapies or personalized medicine. In 2021, BioConnection was granted GMP Certification for production of sterile drug products on its brand-new large scale filling line, significantly increasing its annual production capacity up to 40 million vials for liquid products and up to 4 million vials for freeze-dried products. The new production line is validated as per the EMA and US-FDA quality guidelines.
The pharmaceutical industry is evolving towards targeted drug delivery platforms, complex molecules such as biologics and niche indications, all of which require a wider range of development capabilities and manufacturing capacity to ensure accelerated speed to market. As a result, pharmaceutical companies, both large and small, look for strategic, integrated partners like BioConnection, that can seamlessly deliver on multiple verticals, thereby reducing complexity of their supplier network. In order to establish this next level in services, capacity, quality and to remain fully compliant with the constantly increasing regulatory demands, BioConnection foresees significant investments over the coming period. This will further increase the company’s flexibility in production and will enable the insourcing of additional critical capacities such as formulation, analytical testing, and packaging.
Elderd Land, Partner Health and care at Gimv the Netherlands, states:
“We are impressed by the progress and positioning of BioConnection over the past decade. The quality of the facilities, the ability to serve and grow in the pharma and biotech sector and contribution to the overall development in the pharma space (i.e. personalized medicine) is unparalleled in this size bracket. We very much look forward to support Bioconnection through its next stage of growth and keep further building this already leading company focusing on small to medium biopharmaceuticals worldwide.”
BioConnection’s CEO Alexander Willemse adds:
“We are excited to welcome investment company Gimv as one of our new cornerstone investors. With the new shareholding structure BioConnection will be able to fund and further develop its human equity, infrastructure and service offering. This enables us to fulfill the needs of innovative (bio)pharmaceutical companies by meeting the highest quality CMO market requirements.”
BioConnection, based in Oss, The Netherlands, is a contract manufacturer for the GMP production of sterile drug products (in vials or syringes) for clinical trial programs and commercial purposes. Its state-of-the-art GMP manufacturing facility is EMA and US-FDA certified, the company has more than fifteen years of experience and serves a global customer base. BioConnection offers complete drug product service packages, including filling and freeze drying, technical transfer, scale-up, process validation, analytical support, stability studies, label & pack (incl. serialization) and final batch certification to clinic or market. Delivering from four aseptic filling lines (class A), BioConnection can match quantities that are required for personalized medications, clinical trial programs and commercial purposes.
Gimv is a European investment company, listed on Euronext Brussels. With 40 years’ experience in private equity, Gimv currently has EUR 2 billion of assets under management. The portfolio contains around 55 portfolio companies, with combined turnover of EUR 2.8 billion and 15,000 employees.
As a recognized market leader in selected investment platforms, Gimv identifies entrepreneurial, innovative companies with high growth potential and supports them in their transformation into market leaders. Gimv’s four investment platforms are Consumer, Health & Care, Smart Industries and Sustainable Cities. Each platform works with an experienced team across Gimv’s home markets of Benelux, France and DACH, supported by an extended international network of experts
Further information on Gimv can be found on www.gimv.com