- Serán has secured a $200 million investment, led by Bain Capital, to expand its manufacturing capabilities.
- A new commercial-scale manufacturing facility, focusing on oral, pulmonary, and nasal drug delivery, will be completed by 2026.
Serán, a contract development and manufacturing organization (CDMO), has announced a strategic growth transaction of more than $200 million. The investment, led by Bain Capital Life Sciences, aims to support the company’s continued expansion, with existing investor Vivo Capital remaining a key shareholder. The partnership will support the development of a cutting-edge, commercial-scale facility in Bend, Oregon, focused on spray drying, particle engineering, and finished dose manufacturing.
The new facility will enhance Serán’s ability to provide integrated solutions for drug delivery across various modalities, including oral, pulmonary, and nasal routes. The plant will feature advanced particle engineering technologies such as spray drying, hot melt extrusion, nano-milling, and fluid-bed manufacturing, alongside finished dose capabilities like tableting, encapsulation, and powder filling for modified release products.
“This transaction is a significant milestone in Serán’s evolution,” said Dan Smithey, Co-Founder and CEO of Serán. “It will enable us to rapidly scale our clinical manufacturing capability and support the launch of new medicines.” An adjacent site, already under construction, will further expand the company’s packaging, labeling, serialization, and distribution offerings.
Bain Capital’s Managing Director, Will Cozean, expressed confidence in Serán’s ability to grow, noting, “We believe the company is well-positioned to address the challenges facing next-generation oral drugs.”
Gaurav Aggarwal, a Managing Partner at Vivo Capital, said: “We have been impressed by the accomplishments Dan and the team at Serán have achieved during our partnership thus far, and we are excited to partner with both Serán and Bain as the company advances in its next stage of development to expand into commercial-scalen projects to serve pharma innovators in advancing their products to markets and patients worldwide.”
Overview of outsourcing trends 
