Business
Lifecore Biomedical Signs Commercial Site Transfer Agreement with Leading Medical Aesthetics Company
-- Agreement for the Commercial Manufacture of Established, Approved Aesthetic Product -- -- Third Commercial Site Transfer Agreement Win in Five Months -- --
About this update from Lifecore Biomedical, Inc.
[{"type":"text","content":"-- Agreement for the Commercial Manufacture of Established, Approved Aesthetic Product -- -- Third Commercial Site Transfer Agreement Win in Five Months -- -- Program Expected to Generate Commercial Revenue in 24 Months, Contributing to 2029 Revenue CAGR -- CHASKA, Minn., March 23, 2026 (GLOBE NEWSWIRE) -- Lifecore Biomedical, Inc. (NASDAQ: LFCR) (“Lifecore”), a fully integrated injectables contract development and manufacturing organization (“CDMO”), today announced that it has signed a CDMO manufacturing services agreement with a new aesthetics customer for an established, market-approved product. Under the terms of the agreement, Lifecore will perform technical transfer services including process performance qualification (“PPQ”) batches for a sterile product that the customer currently manufactures in-house, outside the U.S. Initial outsourced manufacturing aims to increase production for products sold in the U.S. market. Lifecore believes the product may generate commercial revenue within 24 months, contributing to the company’s targeted 2029 revenue CAGR of 12%. This is the third commercial site transfer Lifecore has signed since October 2025, demonstrating the successful execution of the company’s strategic plan to secure lower risk, late-stage programs and site transfers which typically provide a faster and more predictable path to commercial revenue compared to traditional development programs. It is also an example of the company’s service expansion into new therapeutic modalities. “We are thrilled to announce the signing of our third commercial site transfer in a relatively short amount of time. We believe these high-value wins reflect Lifecore’s robust quality standards, strong compliance track record, as well as our proven ability to professionally meet the significant demands of commercial production,” said Paul Josephs, chief executive officer of Lifecore. “This is another important milestone in Lifecore’s ongoing execution of its revamped commercial strategy in which late-phase and commercial site transfers represent a meaningful component of our business development pipeline. The addition of this program gives me great confidence that we have the ability to leverage market momentum and to continue to build a portfolio that strengthens our mid-term and long-term growth profile.” About Lifecore Biomedical Lifecore...