Gimv Invests in BioConnection

Gimv invests in BioConnection, a contract development and manufacturing organization for injectable biopharmaceutical products. Gimv is investing in BioConnection alongside existing shareholders Pharming Group, Mibiton and management, with the aim of accelerating the next phase of growth and facilitating further innovation to continue delivering the highest quality services to customers. The Brabant Development Agency (BOM) has supported BioConnection since its foundation. BioConnection is a niche contract development and manufacturing organization (CDMO) focused on filling, finishing and freeze-drying of injectable biopharmaceutical products. The company operates in an FDA and GMP-approved manufacturing facility in Oss (NL - Netherlands) and is one of only a few niche players with both clinical and commercial production capacity. BioConnection operates in the rapidly growing aseptic filling and finishing market, a specialized type of production for the (liquid) final dosage form of pharmaceuticals that requires an aseptic environment, high-quality equipment and freeze-drying expertise. Particularly freeze-drying is a highly complex technology requiring specialized expertise, as it stabilizes drugs and extends shelf life (reducing waste and improving access to medication). Accordingly, (bio)pharmaceutical companies increasingly rely on BioConnection for these services due to its expertise, infrastructure and flexible setup (provision of customized solutions). The rapidly growing (bio)pharmaceutical industry has made the position of CDMOs even more critical, due to increasing capacity constraints across the sector and the shift by pharmaceutical companies toward contract manufacturing. Significant investments are anticipated in the coming period to enable BioConnection to continue delivering the highest quality service to its customers. Investments will be made to improve overall production capacity, further increase production flexibility, ensure full compliance with continuously increasing regulatory requirements and provide additional services such as formulation, analytical testing and packaging. Alongside co-shareholders Pharming Group, Mibiton and management, Gimv looks forward to supporting BioConnection in its next phase of growth by making further investments in the organization and infrastructure to increase production capacity and expand services to customers. Additionally, Gimv will leverage its life sciences network to further support BioConnection. Elderd Land, Partner at Gimv, states: "We are very impressed by what Alexander and his team have built over the past ten years. The quality of the facilities, the ability to serve small and medium-sized companies and the growth potential and general developments in the pharmaceutical field (such as personalized medicine) are unique in this size range. We look forward to supporting BioConnection through its next phase of growth and continuing to expand this already leading company." Alexander Willemse, CEO of BioConnection, says, "We are pleased to have found a partner for the next phase of BioConnection. With the new partnership structure, BioConnection is able to finance and further develop our employees, infrastructure and service delivery. This enables us to meet the needs of innovative biopharmaceutical companies by providing the highest quality CDMO services on the market." Source