- Coriolis Pharma secures investment from KKR to support next steps in growth and to expand global footprint
- Newly formed KKR platform Frontier Biosolutions and its globally renowned experts will serve as advisors to Coriolis Pharma
MARTINSRIED-MUNICH, Germany, October 16, 2023 / B3C newswire / -- Coriolis Pharma, a global service provider and a world leader in the formulation research and development of (bio)pharmaceutical drugs, including cell and gene therapy products and vaccines, today announced an investment from funds managed by KKR, a leading global investment firm. In this context, Coriolis Pharma will enter into a strategic growth partnership with Frontier Biosolutions, a global pharma services platform newly formed by KKR and Flerie Invest AB.
Michael and Thomas Wiggenhorn, co-founders of Coriolis and members of the Board of Directors, said: “Since the foundation of Coriolis 15 years ago, it has been our vision to revolutionize the biopharmaceutical drug development process by integrating innovative digital formulation approaches from drug development to commercial products. The opportunity to partner with KKR and leverage Frontier Biosolutions' world-class experts will allow us to take a big leap forward in further expanding our scientific leadership in our fields of expertise and making this vision a reality.”
Coriolis Pharma has a unique expertise in formulation research and development, analytical services and non-GMP manufacturing of innovative high-value biologics and cell and gene therapy products. Our scientific capabilities enable clients from the biopharmaceutical industry to create drug products with global commercial potential from the very beginning of the development process up to commercialization. We believe KKR’s investment will enable Coriolis to initiate the next phase of growth in its core business, expand its service portfolio along the value chain, strengthen its presence globally, and continue to integrate AI-based technologies.
“We are very excited about this unique partnership which will help us to continue the Coriolis success story,” commented Silvia Steyrer-Gruber, Chief Executive Officer of Coriolis Pharma. “With KKR and Frontier Biosolutions, we have found quality-driven partners and industry experts who will support our excellent team to further expand our science-based services to our clients, whose needs will remain at the core of our activities.”
KKR is investing in Coriolis Pharma through its KKR Health Care Strategic Growth Fund II, and is forming its new pharma services platform Frontier Biosolutions. Coriolis will gain access to KKR’s and Frontier Biosolutions’ global healthcare network to expand Coriolis’ global activities and growth plans focused on innovative, high-quality formulation research and development services.
Kugan Sathiyanandarajah, Managing Director and Head of KKR’s Health Care Strategic Growth business in Europe, said: “We are excited about the formation of Frontier Biosolutions and to bring onboard Thomas Eldered, co-founder of Recipharm and life science investor at Flerie, as Executive Chairman of Frontier Biosolutions. We look forward to the joint collaboration with Coriolis Pharma to further expand the company and serve the growing demand for specialized services for the development of advanced therapeutics.”
About Coriolis Pharma
Coriolis Pharma is a globally operating contract research and development organization (CRDO) and one of the world leaders in formulation research and development of (bio)pharmaceutical drugs, including cell and gene therapy products and vaccines. It is the vision of Coriolis to revolutionize the development process of biopharmaceutical drugs by integrating innovative digital formulation approaches from drug development to commercial products. With its interdisciplinary team of highly skilled scientists and an expert scientific advisory board, Coriolis provides cutting-edge services and tailor-made solutions for its clients. Coriolis was founded in 2008 and currently employs more than 200 employees from over 36 nations around the world.
About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.
Contacts
Coriolis
Bettina von Klitzing-Stückle
+49 (0) 151 52 61 38 97
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KKR
Thea Bichmann
+49 (0) 172 13 99 761
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Fabian Prietzel
+49 (0) 171 86 01 411
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Keywords: Investments; Financial Management; Drug Delivery Systems; Drug Development; Drug Compounding; Laboratories; Genetic Therapy; Biological Products; Pharmaceutical Preparations; Biotechnology; Germany
Published by B3C newswire