The company will also make investments in support of their molecular diagnostics business supporting life science clients
CMO Argonaut Manufacturing Services (Argonaut) has announced a capital investment led by majority shareholder Telegraph Hill Partners that will be focused on expansion at their Carlsbad, CA, manufacturing facilities.
In addition to increased capacity and scale, the new capabilities include complex formulation of parenteral drug products and a new state of the art isolator-based filling line capable of filling vials, syringes, and cartridges for clinical and commercial drug products. Argonaut will also make investments in support of their molecular diagnostics business supporting life science clients.
Chris Duffy, SVP and GM of Argonaut’s drug product business unit stated: “This is the largest expansion and investment in the history of the company. In 2018, we made a strategic decision to pursue our commitment to the drug product manufacturing market with our first filling line. This was well-received by the market, and we now see the need to expand manufacturing capacity to include prefilled syringes and cartridges to support our late-phase and commercial clients”.
This is the largest expansion and investment in the history of the company
The new line will be built in Carlsbad, CA, and will expand the company’s footprint on the west coast. Argonaut’s added capacity for vials and new capabilities to support syringe and cartridge filling will more than double the capacity of the existing filling line and will utilise state of the art isolator-based technology and robotic handling of components.
Wayne Woodard, CEO of Argonaut, commented on the investment: “We would like to thank our investors and our lender, MidCap Financial, for their continued support. Their shared vision of the future and their willingness to partner with the management team has been essential to the continued success of Argonaut”.
The new filling line is expected to be GMP-ready for clinical and commercial business in the first half of 2025.