Pharmaceutical leader partners with Touchdown Ventures to fund promising startups
HARLEYSVILLE, Pennsylvania, Sept. 17, 2019 /PRNewswire/ -- Colorcon, a world leader in the development, supply and technical support of specialty products for the pharmaceutical industry, today announced the establishment of Colorcon Ventures to invest in promising companies in the pharmaceutical industry. Colorcon's business focus is on advanced coating systems, modified release technologies and functional excipients for use in pharmaceutical immediate and modified release dosage forms.
Colorcon Ventures is a $50 million venture fund focused on startups that are strategically relevant to the core Colorcon business. The fund will target investments in transformational solutions across manufacturing, supply chain, and delivery of pharmaceutical products and services. The fund is not investing in companies developing active ingredients or molecules.
The fund will be stage-agnostic, with an emphasis on early and mid-stage companies that demonstrate product market fit and revenue growth. Colorcon Ventures will invest in startups where Colorcon can add value in the form of subject matter expertise or commercial relationships, and leverage Colorcon's global reach, relationships within the pharmaceutical industry, and agile R&D approach.
"We are excited to launch this venture fund to support the growth of startup companies in the pharmaceutical and healthcare industries," said Martti Hedman, CEO of Colorcon. "Colorcon has a rich history of innovation and we believe this fund will allow us to continue to serve our customers by partnering with startups."
Touchdown Ventures, a firm specializing in corporate venture capital, will help manage the Colorcon Ventures fund. Touchdown will work closely with senior executives of Colorcon in all aspects of operating the fund.
"The promise of corporate venture capital is to bring more than just money to the table. A successful corporate investor can generate meaningful value by facilitating commercial relationships with its portfolio companies. We believe that Colorcon Ventures, through close association to the senior executive and business units of Colorcon, is well poised to accomplish this goal," said David Horowitz, CEO of Touchdown.
For more information about Colorcon Ventures, please visit www.colorconventures.com
About Colorcon
Colorcon is a world leader in the development, supply and technical support of specialty ingredients; formulated film coating systems, modified release technologies, and functional excipients for the pharmaceutical industry. Our best-in-class products and technologies are complemented by our extensive application data and value-added services to support all phases of solid oral dose design, development and manufacture.
With focus on market issues and technology development has earned Colorcon an international reputation as a pharmaceutical supplier of choice. That reputation is based on superior product quality, unparalleled technical support, extensive regulatory assistance and reliable supply from multiple locations.
Colorcon has 11 manufacturing facilities, 21 technical service laboratories globally and more than 1200 employees exclusively dedicated to its customer base. For more information, visit www.colorcon.com
About Touchdown Ventures
Touchdown Ventures partners with corporations to manage their venture capital programs. Touchdown works closely with each corporation to achieve the financial and strategic benefits from venture capital investments. The firm maintains offices in Los Angeles, Philadelphia, and San Francisco. More information on Touchdown can be found at www.touchdownvc.com
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Corporate Communications Contact:
Deborah J. TaylorSenior AssociatePhone: +44-1322-627234deborah@colorconventures.com
Media Contact:
Richard HayhurstRichard Hayhurst Associates, Ltd.Phone: +44-7711-821527Richard@richardhayhurstassociates.com
