Startups in the pharmaceutical industry are constantly trying to develop new services and products. Virtually every startup is constrained due to limited funding, whether it be for product development, office space, marketing, inventory or other expenses. However, numerous organizations in the world are now seen trying to support promising startups in the pharmaceutical sector.
Colorcon® is one such organization which has reportedly announced the establishment of Colorcon Venture to invest in promising pharmaceutical companies. Colorcon Venture is a $50 million venture fund which is focused on startups that are strategically related to the company’s business.
Its business focuses on advanced coating systems, functional excipients, and modified release technology that are used in pharmaceutical modified and immediate-release dosage forms. Sources cite that the fund will be targeting investments in transformational solution across the supply chain, manufacturing, and delivery of pharmaceutical products and services.
Moreover, the company’s investment can add value in startups in terms of subject matter expertise and leverage Colorcon’s global reach, commercial relationship within the pharmaceutical sector, and agile research and development approach.
Martti Hedman, CEO of Colorcon, said that the company is launching this venture to support the startup growth in healthcare as well as pharmaceutical sectors. With its rich history of innovation, the company believes that this fund will help it serving its customers by partnering with startups.
Reportedly, Touchdown Venture, the company which has expertise in corporate venture capital, will be helping Colorcon Ventures in its fund management. Touchdown will also work with Colorcon’s senior executives in all aspects of operating the fund.
While commenting on Coloron, David Horowitz, CEO, Touchdown, shared his views on the investment saying that the real aim of the capital venture is to bring more than just money to the table. A successful investor can generate meaningful value through commercial relationships with its portfolio companies. Moreover, their company believes that Colorcon Ventures will achieve the same goal in the future.
Source Credit- https://www.colorcon.com/download/2427/4077/34?method=view