Two Organizations Will Build on Strengths to Address Differentiated End-Use Markets
Two Organizations Will Build on Strengths to Address Differentiated End-Use Markets
WILMINGTON, Del., Sept. 19, 2019 /PRNewswire/ -- Noramco announced today that its industry-leading cannabinoids business will become a separate company – Purisys, LLC. Purisys will focus exclusively on acting as a broad-range ingredient and solutions provider to pharmaceutical and consumer products companies looking to use cannabidiol (CBD) and other cannabinoid-based ingredients in their products. These solutions will include development of cannabinoid and related chemistries, small-scale and large-scale manufacturing, and applications and formulation support for the pharmaceutical, personal care, OTC, food and beverage and nutritional supplement markets. Headquarters for Purisys will be in Athens, GA where it maintains its R&D and applications development capability.
Noramco will continue as a leading pharmaceutical API supplier focusing on its base pain, abuse treatment and prevention (ATAP) and attention deficit disorder (ADHD) portfolio of chemistries and products. Headquarters for Noramco will remain in Wilmington, DE. The two companies will begin operating as standalone entities on October 1 of this year, with legal separation finalized during the fourth quarter of this year.
According to Jim Mish, CEO of Noramco, the main driver behind the separation of the two organizations was to form two companies with a laser-like focus on the types of support that the different markets will require. “The separation of these companies – Noramco and Purisys – is designed to improve the value that we can deliver to customers across all the markets we plan to serve. Noramco will continue its mission as a top API supplier for the pharmaceutical industry, and Purisys will focus on its leadership in bringing cannabinoid ingredients and solutions to a broad range of pharmaceutical and consumer markets. Both companies will be better at serving their markets and customers as a result of this separation,” he said.
A Focus on Advanced Cannabinoids
The new Purisys organization brings one of industry’s longest track records and broadest offerings in the cannabinoid space. The company currently produces all major cannabinoids relevant to pharmaceutical and consumer products (>45), as well as degradants, metabolites and analytical reference standards – having been manufacturing CBD via a patented process since 2016. Purisys’ ultra-high purity CBD (<0.001% THC) is attractive for drug development projects and falls below the 0.3% THC limits set in the 2018 Farm Bill for use in consumer products. The cannabinoids produced by Purisys will be distinguished by their ultra-low THC concentration, world-scale capacity, exacting quality control and strong regulatory support.
An equally important part of the Purisys offering to customers in the pharmaceutical and consumer products spaces is the range of support services the company can provide for product development. Purisys brings with it decades of world-class experience in the pharmaceutical market. For consumer products, Purisys has been and will continue to invest in applications development capabilities – including equipment and personnel. These capabilities will range across personal care, OTC, food, beverage and nutritional supplement markets. The company currently has a number of projects under development in the consumer space that feature its ultra-pure CBD.
According to Mish, one of the primary goals of the new Purisys organization is to act as both a technology and a thought leader in the emerging cannabinoid space across all markets. “Today, as a community, we in the cannabinoid business are running at breakneck speed toward the starting line of a race that has the potential to help patients and consumers alike. As the market matures, I am confident that the quality, purity and scale Purisys possesses are going to be essential in the development and supply of safe and effective products,” he said.
About Noramco
Noramco, headquartered in Wilmington, Delaware, is a leading North American producer of controlled substances bulk Active Pharmaceutical Ingredients (APIs) for the pharmaceutical industry. The company offers cannabinoids and other APIs for use in abuse prevention, attention deficit disorder, pain management, and addiction management. Established in 1979, Noramco maintains production and R&D facilities in Delaware and Georgia (USA); and Neuhausen, Switzerland; and accesses agricultural operations in Tasmania through an affiliate, Tasmanian Alkaloids. Additional information about Noramco can be obtained by visiting Noramco’s web site at www.Noramco.com.
CONTACT: Barbara Mecchi-Knoll, bmecchi@resourceadvantage.com
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SOURCE Noramco
