Kindeva Drug Delivery announced today that it acquired Summit Biosciences, an intranasal drug-delivery company.
Summit, a drug delivery CDMO, brings a track record of innovation in the unit dose nasal spray market. Kindeva believes the acquisition enhances its existing drug delivery capabilities by adding a new platform.
This new platform enhances its ability to serve biopharma customers across a wider range of complex drug-device combination products. Those include pulmonary, injectable, transdermal and nasal.
Summit also brings a 55,000-square-foot cGMP facility in Lexington, Kentucky, adding to Kindeva’s global manufacturing footprint. Kindeva says it now has nine development and manufacturing facilities across the U.S. and United Kingdom. Summit’s facility includes specialized laboratories and integrated manufacturing operations.
Departing Summit Chair and CEO Richard D. Cohen said in a news release that the deal strengthen’s the company’s ability to deliver best-in-class nasal product development and manufacturing.
“Nasal drug delivery is becoming a preferred dosage format for a growing number of indications, as it allows users to non-invasively administer medications in an acute or emergency setting,” said Kindeva CEO Milton Boyer. “Summit brings a differentiated understanding of how to effectively formulate drugs for nasal delivery and the capability to manufacture them at commercial scale. This addition not only fits Kindeva’s ambition to be a global leader in the drug-device combination products CDMO market, but also expands the toolbox we can offer our customers to help improve patient outcomes and experience of care globally.”
