Pfizer Venture Investments invests in companies developing innovative technologies that impact Pfizer’s business. G-Con Manufacturing’s disruptive POD technology can change the pharmaceutical manufacturing landscape.
Bryan, TX (PRWEB) June 26, 2014
G-Con Manufacturing, Inc., the manufacturer of the unparalleled autonomous cleanroom PODs™, today announced a multi-million dollar investment by Pfizer Venture Investments (PVI). Under the terms of the agreement, Bill Burkoth from Pfizer Venture Investments will assume a position on G-Con's board of directors. In addition, G-Con and Pfizer Inc. will continue to work together in the Portable Continuous Miniature and Modular (PCMM) consortium with GEA Process Engineering to develop next generation oral solid dosage processing technology that addresses the rapidly changing requirements of pharmaceutical development and manufacturing.
"We are very encouraged and motivated by this investment, which will accelerate G-CON's already rapid growth,” stated Maik Jornitz, COO G-CON Manufacturing explained.
“Pfizer Venture Investments invests in companies developing innovative technologies that impact Pfizer’s business. G-Con Manufacturing’s disruptive POD technology can change the pharmaceutical manufacturing landscape,” said Bill Burkoth, Executive Director, Pfizer Venture Investments. “The autonomous cleanroom PODs can be deployed quickly and easily, which allows manufacturers to distribute medicines at the time they are needed and also in smaller volumes. We are pleased to help G-Con further capitalize on its growth opportunities.”
Jornitz added, "The investment will support the additional expansion of our technical and production capabilities, as well as new product developments to fulfill new customer applications."
G-CON was founded to address the fact that existing systems and methodologies of constructing biomanufacturing and personalized medicine suites were neither affordable nor flexible enough to meet the rapidly changing market's needs. G-CON's founders have significant experience in designing, building, operating, and maintaining a variety of traditional biomanufacturing facilities. They are familiar with the excessive cost to build, lack of flexibility, and high expense to maintain these traditional facilities and have leveraged this experience to create the G-CON POD™ solution. Moreover, the G-CON team understands that future facility designs must be multipurpose and repurposable, instead of fixed and specialized with ineffective capacity utilization. For more information, please visit the Company's website at http://www.gconbio.com.
About Pfizer Venture Investments
Pfizer Venture Investments (PVI), the venture capital arm of Pfizer, Inc., was founded in 2004 and invests for return in areas of current or future strategic interest to Pfizer. As part of the Worldwide Business Development, PVI seeks to remain at the forefront of life science advances, looking to identify and invest in emerging companies that are developing compounds and technologies that have the potential to enhance Pfizer's pipeline and shape the future of our industry.