- Societal CDMO and Benuvia Operations, LLC have signed a co-marketing agreement.
- The agreement aims to promote each other’s complementary contract development and manufacturing services.
- The collaboration will focus on leveraging their unique expertise in the area of psychedelics.
Societal CDMO is a contract development and manufacturing organisation (CDMO) dedicated to solving complex formulation and manufacturing challenges primarily in small molecule therapeutic development, and Benuvia Operations, LLC, a U.S.-based drug developer and manufacturer of active pharmaceutical ingredients (APIs) with a specialised expertise in controlled substances (cannabinoids and psychedelics).
The two companies have announced the signing of a co-marketing agreement. This agreement is designed to allow the companies to promote each other’s complementary contract development and manufacturing services to their respective customer bases and new business prospects.The agreement was announced on February 1, 2024.
“As we continue to establish Benuvia as a leader in the manufacture of psychedelics, we felt it was important to have a partner who could augment our end-to-end CDMO services when customer needs go beyond our current drug product manufacturing capabilities. Societal proved to be the perfect fit,” stated Darwin Richardson, chief executive officer of Benuvia.
“We have a long history of drug, formulation, and process development in controlled substances, as well as cGMP manufacturing of clinical and commercial drug products. With both companies active in this area, our formalised partner agreement will open new opportunities to meet our customers’ unique needs.”
“We are excited about the strategic alignment offered by our new relationship with the Benuvia team. Our respective services and capabilities are completely complementary with little to no overlap. This allows us to aggressively promote and advocate for each other in the exciting and rapidly growing psychedelic drug development market,” said Scott Rizzo, senior vice president and chief operating officer of Societal CDMO.
“Once we identified a desire to establish a relationship with a preferred partner in the psychedelic API manufacturing market, Benuvia quickly became our number one target based on its impressive reputation and track record of success. We are excited to be working alongside the company to drive the success of this co-marketing agreement.”
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