Corium previously operated a contract development and manufacturing organization (CDMO) from within a larger company, but decided to sell its stake in the business to Webster Equity Partners.
The standalone CDMO business, known as Corium Pharma Solutions, will be acquired by Webster through an investment of over $400 million (€408 million). Of this total, $100 million consists of Webster’s equity investments.
A company spokesperson confirmed that the CDMO is jointly owned by Webster and Gurnet Point, with Corium not involved in the business.
Gurnet Point previously acquired ownership of the Corium business for $500 million in 2018.
According to the companies, the CDMO will focus on expanding its pharmaceutical and consumer product capabilities while maintaining current manufacturing and supply of Corium’s product, Adlarity (a transdermal donepezil system).
Corium Pharma Services will be able to offer a transdermal technology platform as part of its development services. CDMOs are equipped with Corplex technology and can deliver small molecule therapeutics through the skin to provide immediate or sustained release profiles. The company also owns MicroCor technology, which allows biologics to be delivered through the skin without the need for a needle.
The biopharmaceutical business has two commercial products, both of which have been approved by the US Food and Drug Administration (FDA) in the last two years.
The first is Azstarys (serdexmethylphenidate and dexmethylphenidate), a once-daily central nervous system (CNS) stimulant approved for the treatment of attention deficit hyperactivity disorder (ADHD) in patients aged 6 years and older. .
In September 2022, Corium announced the launch of its Adlarity product in the U.S. market after receiving FDA approval for the treatment of Alzheimer’s disease earlier in the year.
This product delivers the acetylcholinesterase inhibitor donepezil in a once-weekly patch that delivers a consistent dose through the skin. This product has been in development for years, and transdermal patches have been pursued as a means of avoiding the gastrointestinal side effects seen with oral formulations.
Both treatments were brought to market through a partnership with KemPharm. Azstarys was developed by his KemPharm and Corium has agreed to a license agreement for exclusive worldwide rights to develop, manufacture and commercialize this treatment.
Regarding Adlarity, KemPharm provided development and regulatory support related to Corium’s resubmission of the New Drug Application for this therapy.