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Develco receives 10 million euros as growth capital
10.10.2024
Basel Area-based Develco Pharma is receiving 10 million euros to expand its production capacities, product developments, and technologies. The investors are SHS Capital and other shareholders.
Research and development is a high priority at Develco (image taken from a Develco Pharma brochure)
Develco Pharma Schweiz AG with headquarters in Pratteln in the Swiss canton of Basel-Landschaft is receiving an additional 10 million euros from its investors to promote production and product developments. Develco specializes in innovative drug formulations with an extended-release effect for pain management and other therapeutic areas. After authorization, the products will be outlicensed to international pharmaceutical companies.
According to a press release, SHS Capital in Tübingen, Germany, plus some of its limited partners and other shareholders are investing additional capital in Develco Pharma. SHS Capital has been investing in Develco since 2020. The initial aim was to build up efficient management. According to a corporate statement from Develco, it has expanded its product portfolio since 2020 by introducing new medicines and registering existing products in additional countries.
Investment helps to scale operations
CEO of Develco Martin Renner commented: “We welcome the new investment to help us scale our operations, increase the investments in our product development, and further expand our technological capabilities. This will allow us to meet the growing market demand and remain at the forefront of our field.”
Manfred Ulmer-Weber, Managing Partner at SHS and Member of the Board at Develco, stated: “Develco has demonstrated excellence in a highly specialized industry, and with this additional capital, we are confident we can elevate Develco to new heights and further accelerate its growth trajectory.”