Pharmaceutical supplier Colorcon Inc. launched a $50 million fund to invest in promising companies in the pharmaceutical industry.
Colorcon Ventures will target startups strategically relevant to Colorcon's core business of advanced coating systems, technologies that alter the way an active drug is released and absorbed by the body, and functional excipients, substances formulated alongside the active ingredient of a medication included to stabilize or bulk up tablets.
It will be stage agnostic, with an emphasis on early and mid-stage companies. It will not invest in companies developing active ingredients or molecules.
Corporate venture capital firm Touchdown Ventures Inc. will help manage the Colorcon Ventures fund.
