Dora Ventures Inc has recapitalized Cumberland, Rhode Island-based Tedor Pharma, a provider of solid oral dose, controlled substance formulations. No financial terms were disclosed.
CUMBERLAND, R.I., May 16, 2018 /PRNewswire/ — TEDOR Pharma, Inc., a full-service, end-to-end, contract development and manufacturing company (CDMO) founded in 2001, today announced the closing of a recapitalization and reorganization of its business, funded by investments from DORA Ventures, Inc.
DORA Ventures is a newly formed investment vehicle, owned and controlled by Laura Iorio, Chairwoman of TEDOR Pharma, and Doug Drysdale, President and CEO of TEDOR Pharma. Iorio has served as Chairwoman of TEDOR Pharma since 2009. Drysdale previously served as Chairman and CEO of Pernix Therapeutics (PTX) and as CEO of Alvogen, Inc.
Dora Ventures was created to invest in under-valued healthcare assets and related segments. “We are excited by this opportunity to provide valuable working capital to TEDOR. The company has undergone significant capital investment over the past two years. This recapitalization gives the new management team the fuel needed to drive growth and provide exceptional service to our customers” commented Laura Iorio.
“The team at TEDOR has worked hard over the past two years to expand the world-class capabilities at our Rhode Island facility. We are now well positioned to leverage those efforts and capabilities in support of the new projects and new customers that are partnering with TEDOR” commented Doug Drysdale.
About Tedor Pharma
TEDOR Pharma, Inc., is a leading developer and manufacturer of solid oral dose, controlled substance formulations. TEDOR recently completed and qualified an expansion of its large-scale manufacturing capabilities at its facility in Cumberland, Rhode Island. The multi-million-dollar investment included the installation of additional multi-purpose cGMP manufacturing suites that are replete with large-scale, solid-dose manufacturing equipment. TEDOR’s enhanced manufacturing capabilities support client development projects from R&D through to large-scale commercial manufacturing. For more information, visit the Company’s website at www.tedorpharma.com.