LAVAL, QC, June 10, 2024 /CNW/ -- In the presence of the esteemed Christopher Skeete, Minister for the Economy, and Christine Poirier, Laval City Councillor, today, Corealis Pharma Inc. proudly inaugurates the expansion of its facilities nestled in the heart of Laval's Biotech City. This significant expansion, the result of an investment exceeding $10 million, extends the premises of the Quebec-based company from 33,000 to 63,000 square feet, facilitating the installation of new state-of-the-art laboratories, and heralding a new era for Corealis, both within Quebec and on a global stage.
"My co-founders and I are immensely proud today to inaugurate these state-of-the-art laboratories. These facilities will bolster our research and development capabilities for new drugs, catering to global growth and enhancing our market presence," stated Corealis President Yves Roy.
Established in 2005 by three pioneering scientists - Yves Roy, Patrick Gosselin, and Yves Mouget - the Laval-based company swiftly garnered the trust of small and medium-sized biotechs globally, as well as major pharmaceutical entities, to emerge as one of the world's foremost Contract Research and Development Organizations (CRO/CDMOs). In 2022, to expedite its expansion, Corealis forged a partnership agreement with the CDPQ and Archimed a global investment firm focused on healthcare industries. With a clientele predominantly located in New England and California, alongside various other regions worldwide, the company recorded a notable 20% increase in sales for 2023. This expansion underscores the company's excellence, dedication, and contribution to the burgeoning life sciences industry in Quebec.
"I am proud to celebrate Corealis' success today! By supporting companies in the life sciences, a key sector of our economy, we are strengthening the international influence of Quebec's expertise. Corealis perfectly embodies this dynamic," declared Mr. Christopher Skeete, Minister for the Economy.
In addition to fostering its workforce expansion, the new space will enable Corealis Pharma to expedite:
- Advancements in formulation development and manufacturing of oral solid dosage forms
- Early-stage projects
- Analytical method development
- Integration of state-of-the-art analytical and formulation equipment
- The pace and scale of drug research and development
- Expanded clinical trial material manufacturing and packaging
The inauguration of Corealis' new facilities today marks the realization of a three-stage strategic plan aimed at attaining the company's primary objective: to emerge as the global benchmark in the development of oral solid dosage form formulations, thereby reinforcing Quebec's status as a center of excellence in biotechnology. This event serves as an occasion to celebrate not only the company's success but also its unwavering commitment to innovation and excellence in the life sciences arena.
"Corealis elevates the profile of Quebec and the city of Laval, in particular. We take immense pride in supporting the directors and employees of this esteemed company, facilitating its continued growth on our soil, thus reaffirming Biotech City as a premier destination for investment and advancement in Quebec's life sciences landscape," concluded Laval City Councillor Christine Poirier.
ABOUT COREALIS PHARMA
Corealis Pharma Inc. ("Corealis") is a world-class formulation development company founded in 2005 by three leading scientists. We provide a complete line of services in formulation development and clinical supplies manufacturing of pharmaceutical oral solid dosage forms. We help small and medium-sized pharmaceutical specialty and biotech companies succeed with innovative strategies, state-of-the-art technologies, and value-added expertise. Corealis' goal is to provide phase-appropriate trial materials to shorten the drug development cycle times and ensure a seamless transition to drug commercialization, in turn, accelerating access to ground-breaking patient therapies. Learn more at CorealisPharma.com
Media contact
Patrick Frankham, PhD, MBA
Dir. Développement des affaires / Dir. Business Development
[email protected]
M: (514) 943-1899
T: (450) 973-7505
SOURCE Corealis Pharma Inc.
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