Codis Raises Growth Capital to Expand Commercial Manufacturing; Welcomes 1315 Capital

• Use of proceeds: Expand Haverhill, UK commercial manufacturing capacity
• Current scale: More than 400,000 square feet across three cGMP sites (US and UK); >5,000 MT/year spray-dried capacity

ST. LOUIS, Oct. 16, 2025 /PRNewswire/ -- Codis, a CDMO focused on commercial spray drying, amorphous solid dispersions (ASD), particle engineering, and finished-dose manufacturing, today announced a growth investment from 1315 Capital, with participation from existing shareholders BroadOak Capital Partners and Research Corporation Technologies (RCT). The funding will accelerate expansion of Codis's commercial manufacturing capacity, with a focus on its Haverhill, UK facility.
Codis operates more than 400,000 square feet of cGMP facilities across St. Louis, MO; Seymour, IN; and Haverhill, UK, providing large-scale spray drying and related technologies for pharmaceutical, consumer health, nutraceutical, and OTC markets.

"We're pleased to welcome 1315 Capital alongside RCT and BroadOak; this investment enables us to expand capacity in Haverhill to better support customers scaling to commercial supply," said Nicolas Fortin, Chief Executive Officer of Codis.

"The pharmaceutical industry increasingly needs spray-drying expertise in order to produce amorphous solid dispersions, drug substances, and functional excipients," said Matthew Reber, Partner at 1315 Capital. "We're proud to partner with Codis as the company expands its commercial manufacturing offerings in these markets."

"With capacity to produce more than 5,000 metric tons of spray-dried product annually, Codis operates one of the largest commercial spray-drying platforms worldwide," said Shaun Kirkpatrick, President, Biotechnologies, RCT.

"This investment builds on Codis's foundation of scale, quality, and global reach," said Michael Caspani, Managing Director, BroadOak Capital Partners.

"Expanding Haverhill strengthens our global commercial network and shortens time to supply for customers," said Derek Hennecke, Chairman of the Board.

About Codis
Codis is a global CDMO specializing in commercial spray drying, amorphous solid dispersions, particle engineering, and finished dose manufacturing for the pharmaceutical, consumer health, nutraceutical, and OTC sectors. With more than 400,000 sq ft of cGMP facilities in St. Louis, MO, Seymour, IN and Haverhill, UK, Codis combines decades of regulatory expertise and manufacturing strength under one brand. Learn more at www.codis.com.

About 1315 Capital
1315 Capital is a healthcare-focused private equity firm with more than $1 billion in assets under management. 1315 Capital specializes in growth equity, growth buyouts, and corporate carve-outs of commercial-stage healthcare companies, including healthcare services, pharma / medtech products, pharma / medtech outsourcing, and health & wellness businesses. Visit www.1315capital.com.

About BroadOak Capital Partners
BroadOak Capital Partners is a boutique financial institution that provides direct investment and investment banking services to companies in the life science tools, diagnostics, and biopharma services sectors. BroadOak has led or participated in investments in more than 70 companies across the life sciences industry. For more information, visit www.broadoak.com.

About Research Corporation Technologies
Research Corporation Technologies (RCT) is a Tucson, Arizona–based investment and technology management company that provides funding and development support for life science and biomedical companies. RCT manages more than $500 million to advance technology and product development through flexible, long-term investments. Learn more at www.rctech.com.

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