Corium had previously run its contract development and manufacturing organization (CDMO) within a large company, but decided to sell its stake in the business to Webster Equity Partners.
The stand-alone CDMO business will be called Corium Pharma Solutions, which Webster will acquire through an investment of more than $400 million (€408 million). Of that, $100 million was an equity investment from Webster.
A spokesman for the company confirmed that CDMO will be jointly owned by Webster and Gurnet Point, and that Corium has no stake in the business.
Previously, Gurnet Point acquired ownership of the Corium business for $500 million in 2018.
According to the companies, CDMO will focus on expanding its pharmaceutical and consumer product capabilities while maintaining production and supply of its current Corium product, Adlarity, a transdermal system for donepezil.
Corium Pharma Services will be able to offer its transdermal technology platform as part of its development services. CDMO has Corplex technology, which enables small molecule treatments to be delivered through the skin to provide immediate or sustained release profiles. The company also has MicroCor technology, which allows for needle-free delivery of biologics through the skin.
The biopharmaceutical business has two commercial products, both of which have been approved by the U.S. Food and Drug Administration (FDA) in the past 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 over 6 years of age.
In September 2022, Corium announced that its Adlarity product had been launched in the U.S. market after receiving FDA approval for Alzheimer’s disease earlier this year.
The product delivers the acetylcholinesterase inhibitor donepezil in a once-weekly patch to deliver a consistent dose through the skin. The product has been in development for several years, and the transdermal patch is used as a means of avoiding the gastrointestinal side effects seen in oral formulations.
Both treatments are brought to market through a partnership with KemPharm. Azstarys is being developed by KemPharm, and Corium agreed to a license agreement for exclusive worldwide rights to develop, manufacture and commercialize the therapy.
At Adlarity, KemPharm provided development and regulatory assistance in connection with Corium’s resubmission of its New Drug Application for therapy.