WellSpring Completes $3 Million Capital Investment and Forms New Partnership
Posted by Sam Ricchezza
Apr 7, 2016 12:10:00 PM
Oakville, Ontario, April 7, 2016 — WellSpring Pharma Services, leading specialists in formulation, development and manufacturing for a wide range of solid, semi-solid and non-sterile liquid products, has announced a $3 million capital investment in new equipment as well as a new strategic partnership with IDT Australia Ltd. to manufacture drugs targeting the U.S. market.
The capital investment enables new, directly scalable capabilities in smaller development-scale equipment; expanded manufacturing for specialized dosage forms such as bilayer tablets; and improved support for high-potency compound manufacturing.
“Our expanded capabilities include new expertise in process development and manufacturing for earlier phased clinical trials as well as future expansion of our large-scale manufacturing capabilities,” said David Mayers, president, WellSpring Pharma Services. “We’re now better equipped to offer our clients services from small-scale development and scale-up to large-scale manufacturing, packaging and distribution.”
Among the equipment added during the capitalization were an Alexanderwerk Roller Compactor; an IMA Precisa capsule weight checker; a 400 kg O’Hara Tray Drying oven; a Korsch XL 400 Tablet Press with bilayer module; a Glatt GPCG 2/5 Fluid Bed Processor; an O’Hara Aqueous Film Coater with 18” and 30” interchangeable pans; and a 5L Becomix Counter sweep vessel.
Motivated in part by WellSpring’s expanded capabilities, IDT Australia concluded a manufacturing and supply agreement to produce several products at the WellSpring facility near Toronto, including Pindolol, a cardiac drug with an estimated U.S. market value of $10 million.
WellSpring will be showcasing its capital expansion as well as its new branding in booth 1212 at INTERPHEX in New York, April 26-28. Key WellSpring executives will also be among the speakers at INTERPHEX with three presentations on Wednesday, April 27.
For more information on WellSpring’s capabilities and to arrange a meeting with company leaders at INTERPHEX, visit www.wellspringcmo.com.
IDT (ASX:IDT) is a public Australian pharmaceutical manufacturing company based in Boronia, Victoria, Australia. IDT is commercializing a portfolio of 24 generic drugs to manufacture and sell via US distribution partners. The company is also exploring EU and Japanese sales opportunities. With IDT’s 2013 temozolomide ANDA filing, this signifies IDT’s move to rapidly become a specialty generics business with near-term revenue build up. IDT has extensive experience in the development and production of high potency and high containment pharmaceutical products for local and international clients. IDT’s facilities are fully cGMP compliant and are regularly audited by the US FDA and Australian TGA. With an experienced team of specialists within world‐class facilities, IDT provides a full‐scale service for new drug development and scale‐up, commercial active drug manufacture as well as a variety of oral and injectable finished drug dose forms. Through CMAX, its clinical research services business based at the Royal Adelaide Hospital in South Australia, IDT also provides full Phase I clinical trials management and delivery, recruitment in specific disease states for Phase II and Phase III trials as well as offering trial packaging, distribution and pharmacy services from the cGMP Boronia facilities.
is the Vice President, Business Development for WellSpring Pharma Services. He has over 18 years of business development and marketing experience in the pharmaceutical contract development and manufacturing industry. He has held a number of progressively responsible business development positions over the course of his career with Patheon, DPT Laboratories, AAIPharma and WellSpring. Sam is also a member of “Contract Pharma’s” Editorial Advisory Board.