Founded in 2019, Summit Biosciences is an intranasal drug-delivery contract development and manufacturing organisation serving the unit dose nasal spray market
Summit Biosciences is an intranasal drug-delivery contract development and manufacturing organisation (CDMO). (Credit: Alexander Grey on Unsplash)
Kindeva Drug Delivery has acquired US-based pharmaceutical company Summit Biosciences from its founding family shareholders for an undisclosed sum.
Founded in 2019, Summit Biosciences is an intranasal drug-delivery contract development and manufacturing organisation (CDMO) serving the unit dose nasal spray market.
The acquisition is expected to improve Kindeva’s existing drug-delivery capabilities by adding Summit’s new drug-delivery platform.
It will also expand the capacity of Kindeva to provide biopharma customers with a expanded range of complex drug-device combination products including pulmonary, injectable, transdermal and nasal.
Kindeva CEO Milton Boyer said: “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.
“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.”
The deal also gives Kindeva access to Summit’s 55,000ft2 cGMP facility in Lexington, Kentucky, the US.
The facility has integrated manufacturing operations and specialised laboratories to bring intranasal medications to market. It has also been approved by the European Medicines Agency (EMA) and the US Food and Drug Administration (FDA).
Kindeva, which is a drug-device combination products maker, has nine development and manufacturing facilities spread around the US and the UK.
Summit chairman and CEO Richard Cohen said: “Joining Kindeva strengthens our ability to deliver best-in-class nasal product development and manufacturing.
“Under Kindeva’s leadership, our dedicated and talented workforce will further drive our founder’s vision of increasing the availability of nasal drug-delivery options.”
Kirkland & Ellis offered legal assistance to Kindeva Drug Delivery on the deal. Bourne Partners served as the financial advisor and Frost Brown Todd as the legal counsel for Summit.