Will help G-Con further capitalise on its autonomous cleanroom PODs
Pfizer Venture Investments (PVI), the venture capital arm of Pfizer, has made a 'multi-million dollar' investment in G-Con Manufacturing, the manufacturer of autonomous cleanroom PODs.
No financial details have been revealed.
Under the terms of the agreement, Bill Burkoth from PVI will join G-Con's board of directors.
In addition, the two companies will continue to work together in the Portable Continuous Miniature and Modular (PCMM) consortium with GEA Process Engineering to develop oral solid dosage processing technology that addresses the rapidly changing requirements of pharmaceutical development and manufacturing.
'We are very encouraged and motivated by this investment, which will accelerate G-Con's already rapid growth,' said Maik Jornitz, COO of G-Con Manufacturing.
The investment is expected to support the expansion of G-Con's technical and production capabilities, as well as new product developments.
Burkoth said G-Con's POD technology has the potential to 'change the pharmaceutical manufacturing landscape'.
'The autonomous cleanroom PODs can be deployed quickly and easily, which allows manufacturers to distribute medicines at the time they are needed and also in smaller volumes. We are pleased to help G-Con further capitalise on its growth opportunities,' he added.