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Lifecore Biomedical Signs Term Sheet to Expand CDMO Relationship

Provides $10 million upfront cash commitment to Lifecore for infrastructure preparation and production capacity preparation.

Lifecore Biomedical, Inc., a CDMO, has entered into a term sheet to expand its existing CDMO relationship with one of its long-term commercial Hyaluronic Acid and CDMO customers, including obtaining certain up-front cash payments and capital reimbursement obligations from the customer and entering an agreement to amend the current contract manufacturing agreement (CMA) with the customer to extend and expand the relationship. James Hall, President and CEO of Lifecore Biomedical, said: “We’re p...

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