Jan 20, 2022, 08:10 ET
HARLEYSVILLE, Pa., Jan. 20, 2022 /PRNewswire/ -- Colorcon Ventures, the corporate venture fund of Colorcon Inc., has invested in Apprentice.io, a leading provider of Intelligent Manufacturing Execution Systems (MES) designed specifically for the life sciences industry.
Apprentice offers a dynamic, end-to-end platform with a suite of software applications designed to streamline batch-based manufacturing and remote collaboration. Solutions include intelligent batch execution, augmented procedures and workflows, predictive resource management, and immersive training. The platform grows more intuitive over time, using artificial intelligence, machine learning and augmented reality to help organizations improve yield, quality, and speed to market.
Ali Rajabi-Siahboomi, Vice President and Chief Innovation Officer at Colorcon, said, "Our customers are striving for faster times to market, improved manufacturing consistency, as well as business continuity through times of crisis. During COVID, demand for Apprentice has accelerated with several leading pharmaceutical manufacturers, as design weaknesses in legacy manufacturing systems were exposed. Based on the positive outcomes seen by industry participants, we anticipate a broader global adoption of Apprentice's solutions."
Angelo Stracquatanio, Apprentice's Founder and CEO, said, "We are excited to have Colorcon Ventures join us as a strategic investor on our mission to modernize pharmaceutical manufacturing and realize Pharma 4.0, with the objective of getting medicine to patients faster and safer. Colorcon's global footprint and pharma relationships will be invaluable as we begin to expand our geographic reach."
Colorcon Ventures joins a prominent list of investors who also participated in Apprentice's recently announced Series C, including Alkeon Capital Management, Insight Partners, Pacific West Bank, Silverton Partners, GFR Fund, and The Venture Reality Fund.
Colorcon Ventures targets investments in transformational solutions for the pharmaceutical and nutraceutical industries across R&D, manufacturing, supply chain, and the delivery of pharmaceutical products and services. Colorcon Ventures is the corporate venture fund of Colorcon Inc., a trusted design and development partner to over 4,000 pharmaceutical companies, around the world, providing expertise to fast-track pharmaceutical formulation and manufacturing. For more information, please visit Colorcon Ventures or follow @ColorconVC
Apprentice.io's disruptive technology helps pharma manufacturers get medicine to patients faster by providing one platform to turn molecules into medicine. The company's intelligent cloud platform integrates augmented reality, voice recognition, and artificial intelligence into wearable, mobile, and desktop devices to offer a virtual collaboration application and a robust manufacturing and lab execution system that reduce human error and inefficiency in the drug production process. Learn how 15 of the top 20 US Pharma companies use Apprentice to accelerate high-quality production of drugs for diseases of all types, from COVID to cancer, at www.apprentice.io.
SOURCE Colorcon Ventures
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