# Lyophilization Services of New England

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/lyophilization-services-of-new-england

- Industry: Pharmaceuticals
- Headquarters: Bedford, US
- Website: www.lyophilization.com
- Total disclosed funding: $6.1M
- Latest round: Series A (May 28, 2008)
- Investors on record: 1

## About

Lyophilization Services of New England, Inc. provides specialized lyophilization services to the pharmaceutical and biotechnology sectors, supporting drug development through innovative freeze-drying techniques and comprehensive contract development solutions.Founded in 1997, Lyophilization Services of New England, Inc. is headquartered in Bedford, US, focusing on lyophilization services for the pharmaceutical industry. The company has undergone significant changes, including its acquisition by PCI Pharma Services in December 2021, which expanded its capabilities as a Contract Development and Manufacturing Organization (CDMO). Matthew Halvorsen, who is both the founder and CEO, leads the company, bringing experience from previous ventures in the industry. The company's latest funding round, the Series A in October 2021, raised USD 6.10 mn, bringing the total amount raised to USD 6.10 mn and valuing the company at USD 63.23 mn.Lyophilization Services of New England, Inc. specializes in lyophilization, offering comprehensive solutions in the drug development process. Their services include the design, development, and delivery of freeze-dried products tailored to meet client-specific requirements. The company caters to a diverse range of pharmaceutical and biotechnology clients, enhancing their drug delivery systems and facilitating clinical trial services. This extensive portfolio is backed by their expertise across all stages of product development, ensuring compliance with the evolving needs of the healthcare industry.Lyophilization Services of New England, Inc. operates on a business model that emphasizes B2B transactions with pharmaceutical and biotechnology firms. Revenue is generated through service contracts focused on lyophilization processes for drug formulation, packaging, and clinical trial support. The company plays a pivotal role in the launch of over 90 new drug products annually, with revenue driven by the complexity and volume of contracts negotiated, often including milestone payments for project completions.Looking ahead, Lyophilization Services of New England, Inc. aims to leverage its acquisition by PCI Pharma Services to expand its service offerings globally, particularly enhancing its capabilities in biologics packaging and specialty manufacturing. The funding from the Series A round will support these strategic initiatives, focusing on launching new service lines and penetrating new markets across North America, Europe, and Asia Pacific by 2023. The company intends to utilize its established network to integrate large and small molecule solutions for its clinical and commercial clients, aligning with industry demands.

## Funding rounds

- Series A, May 28, 2008, $6.1M — Clairvest GP Manageco

## Investors

- Clairvest GP Manageco (https://capitalatlas.ai/funds/clairvest-gp-manageco) — Series A