Societal CDMO and Benuvia Sign Co-Marketing Agreement Designed to Promote Complementary CDMO and API Manufacturing Services to Drug Developers

Agreement Broadly Applicable to All Therapeutic Areas with Specific Focus on the Growing Psychedelic and Cannabinoid Drug Development Markets

Complementary Capabilities Range from API Manufacturing through Process Development and cGMP Manufacturing to Fill/Finish

GAINESVILLE, Ga. and ROUND ROCK, Texas, Feb. 01, 2024 (GLOBE NEWSWIRE) -- Societal CDMO, Inc. (“Societal CDMO”; NASDAQ: SCTL), a contract development and manufacturing organization (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 specialized expertise in controlled substances (cannabinoids and psychedelics), today announced the signing of a co-marketing agreement. The 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. As part of the agreement, the companies will highlight Benuvia’s specific expertise as a manufacturer of drug substance (API) and Societal’s focus on manufacturing drug product. While the agreement is not limited to any specific therapeutic indication or modality, the companies will specifically focus on leveraging their unique expertise in the area of psychedelics to address this expanding drug development market.

Societal CDMO possesses a broad range of CDMO capabilities spanning formulation development, analytical testing and manufacturing of oral solid dose finished drug products. The company has several decades of experience in manufacturing and handling controlled substances. In 2023, the company received U.S. Drug Enforcement Agency (DEA) approval to add certain Schedule 1 psychedelic compounds to its controlled substance manufacturing registration, expanding upon the Schedule 2 manufacturing registration it has held with the DEA for over 20 years. This expansion of its controlled substance capabilities has placed the company in a strong position to support customers with the manufacture of high-quality cGMP clinical supplies for the growing number of ongoing and planned clinical trials in the psychedelic drug development area.