3i invests in new Switzerland based biologics-focused CDMO

Drugs

Called ten23 health, the new entity is focused on helping innovative biotech and pharma customers develop and commercialize injectable biopharmaceutical drugs. It is headquartered in Basel, Switzerland.

“We haven’t disclosed any financials in relation to this transaction. While no set amount of capital has been committed for ten23, in a typical deal, 3i will invest in assets with an enterprise value in the range of €100m to €500m,”​ a spokesperson for 3i told BioPharma-Reporter.

The CDMO’s core service offering will include formulation development, drug product development and manufacturing, as well as testing services for sterile pharmaceutical products, said 3i, an investment firm operating both private equity and infrastructure divisions with both a Northern Europe and North America focus. 

“These high-value services are critical to helping pharma and biotech customers turn a scientific concept and therapeutic modality into a viable sterile medicine that is optimized for manufacturability, patient access and ease of administration, and logistical favorability.”

Dr Hanns-Christian Mahler is named CEO of ten23 health. He brings a wealth of experience to the role, having built a “highly successful business”​ within Lonza focused on drug product formulation development services and fill and finish manufacturing for biologics, said 3i.

Prior to his work in Lonza, Dr Mahler served as head of pharmaceutical development and supplies at Roche, where he built its biologics product development division.

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