Argonaut Manufacturing Services – a leading contract development and manufacturing organization serving the biopharma and life sciences industries – announced the completion of a $45 million financing to support its new drug product fill / finish expansion. And this expansion in Carlsbad, CA, underway since early 2023, includes a new dedicated facility with a state-of-the-art isolator-based filling line that more than quadruples Argonaut’s existing drug product fill/finish capacity and augments existing vial filling capabilities with the ability to pre-fill syringes and cartridges for clinical and commercial supply. Argonaut also expects to validate the facility and all equipment in 2025 fully.
The funding was led by NewVale Capital, a growth equity fund focused on innovative pharmaceutical and life science services businesses, with participation from existing majority investor Telegraph Hill Partners, and other current investors.
Argonaut’s FDA-registered facilities are compliant with 21 CFR parts 210, 211, and 820 and offer highly flexible and scalable solutions for a broad range of biopharmaceuticals, including monoclonal antibodies, proteins, peptides, oligonucleotides, and small molecules. And Argonaut maintains an ISO 13485:2016 certification to produce drug-device combination products. Argonaut’s quality systems have been successfully audited by many biopharma customers and global regulatory agencies including the FDA and PMDA.
RBC Capital Markets LLC served as exclusive placement agent to Argonaut.
KEY QUOTES:
“Argonaut is uniquely positioned to address the manufacturing challenges that biopharma innovators face related to sterile fill / finish of complex and high-value drug products. We remain laser focused on leveraging our experienced team’s commitment to flexibility and client satisfaction while prioritizing quality and compliance. The recent commitment from NewVale Capital and the continued support of Telegraph Hill Partners paves a straight path to capacity expansion and fulfillment of our mission to become the world’s best Drug Product Manufacturing solutions provider for our clients.”
- Wayne Woodard, founder and CEO of Argonaut
“We are thrilled to partner with Telegraph Hill to support the experienced team at Argonaut, building upon their strong foundation. For years, small- and medium-sized biopharma companies have struggled to find reliable, high-quality fill / finish capabilities from providers that prioritize their molecules. With this capital infusion, we can further enable Argonaut’s mission that no innovator, regardless of size, should be waitlisted behind larger pharma or be forced to compromise on quality when trying to bring critical therapies to patients.”
- Todd Holmes, Managing Partner of NewVale Capital
“The recent consolidation in the aseptic fill / finish market has highlighted the need for additional capacity to ensure patients have uninterrupted access to critical life-saving and life-extending therapies. Our deep expertise in fill / finish, coupled with our planned expansion will help address this need for our clients and we remain ready to take on new projects.”
- Chris Duffy, SVP/GM of Biopharma Services at Argonaut
