Up­dat­ed: With new $100M in­vest­ment, a biotech with two ap­proved drugs spins out its man­u­fac­tur­ing busi­ness

A biotech has de­cid­ed to break off a part of its busi­ness in a new deal.

The Mass­a­chu­setts-based biotech Cori­um, which is cen­tered around de­vel­op­ing neu­ro­science ther­a­pies, has si­phoned off its man­u­fac­tur­ing busi­ness to Gur­net Point Cap­i­tal. The biotech al­so re­ceived a $100 mil­lion in­vest­ment from Web­ster Eq­ui­ty Part­ners, a health­care-cen­tered pri­vate eq­ui­ty firm.

The man­u­fac­tur­ing busi­ness, now chris­tened Cori­um Phar­ma So­lu­tions is val­ued at $400 mil­lion with the in­vest­ment from Web­ster, ac­cord­ing to a re­lease from the com­pa­ny. Cori­um Phar­ma So­lu­tions be­comes a CD­MO, and the orig­i­nal firm re­mains a neu­ro­science biotech to com­mer­cial­ize prod­ucts.

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