Argonaut Manufacturing Services Secures $45M Funding for Expanded Pharma Fill / Finish Facility Argonaut Manufacturing Services, a prominent contract development and manufacturing organization in the biopharma and life sciences sectors, has finalized a $45 million financing deal to bolster its new drug product fill/finish expansion. Situated in Carlsbad, CA, this ongoing expansion project, initiated in early 2023, encompasses a dedicated facility featuring a cutting-edge isolator-based filling line. This facility will significantly increase Argonaut’s existing drug product fill/finish capacity, introducing pre-filling capabilities for syringes and cartridges to cater to clinical and commercial demands. The facility and equipment are anticipated to undergo full validation by 2025.
Led by NewVale Capital, a growth equity fund focusing on innovative pharmaceutical and life science services businesses, the financing also saw participation from existing majority investor Telegraph Hill Partners and other current investors.
Wayne Woodard, founder and CEO of Argonaut, emphasized the company’s commitment to addressing manufacturing challenges in sterile fill/finish processes for complex and high-value drug products. He highlighted the significance of flexibility, client satisfaction, quality, and compliance in achieving the company’s mission.
Todd Holmes, Managing Partner of NewVale Capital, expressed enthusiasm in partnering with Telegraph Hill to support Argonaut’s seasoned team, aiming to enhance the company’s capabilities in catering to small- and medium-sized biopharma companies seeking reliable, high-quality fill/finish services.
Argonaut’s FDA-registered facilities comply with 21 CFR parts 210, 211, and 820, offering flexible and scalable solutions for various biopharmaceuticals, including monoclonal antibodies, proteins, peptides, oligonucleotides, and small molecules. The company is also certified under ISO 13485:2016 for producing drug-device combination products, with its quality systems audited successfully by numerous biopharma customers and regulatory agencies worldwide.
Chris Duffy, SVP/GM of Biopharma Services at Argonaut, highlighted the importance of expanding fill/finish capacity to ensure uninterrupted access to critical therapies for patients, emphasizing the company’s readiness to undertake new projects.
RBC Capital Markets LLC served as the exclusive placement agent for Argonaut in this financing endeavor.
