Additional Contract Broadens and Further Strengthens Customer Product Portfolio
Additional Contract Broadens and Further Strengthens Customer Product Portfolio
GAINESVILLE, Ga., April 15, 2021 (GLOBE NEWSWIRE) -- Recro Pharma, Inc. (“Recro”; NASD: REPH), a contract development and manufacturing organization (CDMO) dedicated to solving complex formulation and manufacturing challenges for companies developing oral solid dose drug products, today announced the signing of additional agreements with an existing customer, Ensysce Biosciences, Inc. (“Ensysce”). Under these new agreements, Recro will provide early-stage development and manufacturing services to support two of Ensysce’s development programs. Recro and Ensysce have already commenced the initial phase of these projects.
“We are delighted that Ensysce has elected to expand our relationship by selecting Recro as their CDMO to support the development of these important drug candidates. The ability to partner with a company that is committed to applying its proprietary technology platform to addressing the ongoing opioid crisis in a novel way is a privilege to the entire Recro team,” said Richard Sidwell, Ph.D., chief scientific officer of Recro. “These latest agreements with Ensysce provide further evidence of the momentum we continue to generate toward our dual goals of revenue growth and customer base diversification. We are pleased to have Ensysce on our growing list of customers.”
Lynn Kirkpatrick, Ph.D., chief executive officer of Ensysce Biosciences, commented, “Ensysce is happy to partner with Recro to advance the development of our clinical programs. Recro’s experience with oral solid dosage forms, positive track record with regulatory agencies, and high touch partnership approach to working with customers will support our efforts to bring novel, abuse and overdose resistant relief to patients suffering from chronic pain.”
About Recro
Recro (NASD: REPH) is a contract development and manufacturing organization (CDMO) with capabilities from early feasibility to commercial manufacturing. With expertise in solving complex manufacturing problems, Recro is a CDMO providing oral solid dosage form development, end-to-end regulatory support, clinical and commercial manufacturing, and packaging and logistics services to the global pharmaceutical market.
In addition to our experience in handling DEA controlled substances and developing and manufacturing modified release oral solid dosage forms, Recro has the expertise to deliver on our clients’ pharmaceutical development and manufacturing projects, regardless of complexity level. We do all of this in our best-in-class facilities, which total 120,000 square feet, in Gainesville, Georgia.
For more information about Recro’s CDMO solutions, visit recrocdmo.com.
About Ensysce Biosciences
Ensysce Biosciences, San Diego CA, is transforming pain management through chemistry. Its TAAP prodrug abuse deterrent and MPAR™ overdose resistant pain platforms, with worldwide intellectual patent protection, reduce the ability to abuse and overdose with opioid products, a leading issue in the US that has been intensified by the COVID pandemic and that leads to billions in healthcare costs annually. Ensysce has recently announced its merger with Leisure Acquisition Corp.
About Leisure Acquisition Corp.
LACQ is a blank check company formed for the purpose of effecting a merger or other business combination with a target company. Leisure is led by Lorne Weil and Daniel Silvers and completed its Initial Public Offering in December 2017. Leisure is listed on the Nasdaq Capital Market (NASDAQ: LACQ, LACQU, LACQW). Additional information can be found at www.leisureacq.com.
Cautionary Statement Regarding Forward Looking Statements
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements, among other things, relate to the Company’s ability to manage costs and to achieve its financial goals; to operate under increased leverage and associated lending covenants; to pay its debt under its credit agreement and to maintain relationships with CDMO commercial partners and develop additional commercial partnerships. The words “anticipate”, “believe”, “could”, “estimate”, “upcoming”, “expect”, “intend”, “may”, “plan”, “predict”, “project”, “will” and similar terms and phrases may be used to identify forward-looking statements in this press release. Our operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward-looking statements ultimately prove to be correct. Factors that could cause the Company’s actual outcomes to differ materially from those expressed in or underlying these forward-looking statements include the ongoing economic and social consequences of the COVID-19 pandemic, including any adverse impact on the customer ordering patterns or inventory rebalancing or disruption in raw materials or supply chain; demand for the Company’s services, which depends in part on customers’ research and development and the clinical plans and market success of their products; customers’ changing inventory requirements and manufacturing plans; customers and prospective customers decisions to move forward with the Company’s manufacturing services; the average profitability, or mix, of the products the Company manufactures; the Company’s ability to enhance existing or introduce new services in a timely manner; fluctuations in the costs, availability, and suitability of the components of the products the Company manufactures, including active pharmaceutical ingredients, excipients, purchased components and raw materials, or the Company’s customers facing increasing or new competition. These forward-looking statements should be considered together with the risks and uncertainties that may affect our business and future results presented herein along with those risks and uncertainties discussed in our filings with the Securities and Exchange Commission at www.sec.gov. These forward-looking statements are based on information currently available to us, and we assume no obligation to update any forward-looking statements except as required by applicable law.
Contacts: Stephanie Diaz (Investors) Vida Strategic Partners 415-675-7401 sdiaz@vidasp.com Tim Brons (Media) Vida Strategic Partners 415-675-7402 tbrons@vidasp.com Ryan D. Lake (CFO) Recro (484) 395-2436 ryan.lake@recroCDMO.com
