CHASKA, Minn. - Lifecore Biomedical, Inc. (NASDAQ:LFCR), a contract development and manufacturing organization with a market capitalization of $256 million, has announced its partnership with Nirsum Laboratories, Inc. to provide critical fill and finish services for Nirsum's lead candidate, NRS-033, which is entering Phase 2 clinical trials. The announcement comes as Lifecore demonstrates strong business momentum, with revenue growth of 23% in the last twelve months according to InvestingPro data. The collaboration, revealed Today, will involve Lifecore's expertise in the fill and finish of sterile injectable pharmaceutical products to support the development of NRS-033, a potential treatment for opioid and alcohol use disorders (OUD and AUD).
NRS-033, developed by Nirsum, is aimed at addressing the high relapse rates in treatments for OUD and AUD by improving therapeutic retention. The partnership is significant as these disorders represent a substantial unmet medical need with limited FDA-approved treatments. Lifecore's CEO, Paul Josephs, expressed the company's commitment to applying its experience with complex formulations to enhance and validate Nirsum's fill and finish process.
The agreement will enable Lifecore to supply filled syringes for Nirsum's clinical development of NRS-033. Nikej Shah, M.D., CEO of Nirsum Labs, highlighted the critical problem of short therapeutic retention in current therapies and the potential of NRS-033 to provide hope to millions affected by these disorders.
Lifecore Biomedical, with over 40 years of experience, specializes in the development, fill, and finish of sterile injectable pharmaceutical products. This partnership with Nirsum, whose NRS-033 development is partly funded by a Cooperative Agreement with the National Institutes of Health, marks a step forward in addressing the urgent public health issue of addiction.
The companies have not disclosed the financial terms of the agreement. This partnership is based on strategic collaboration and does not represent an endorsement of Lifecore's or Nirsum's products or services. The information regarding this partnership is based on a press release statement. InvestingPro analysis shows Lifecore maintains a healthy financial position with a "GOOD" overall health score and a gross profit margin of 34.65%. For deeper insights into Lifecore's financial metrics and growth potential, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, Lifecore Biomedical has seen significant developments. The company's Q1 2025 earnings report revealed a modest revenue increase to $24.7 million, up from $24.5 million the previous year, and a significant jump in gross profit from $2.7 million to $5.4 million. The rise in profit is attributed to a favorable sales mix and price increments. Lifecore also announced an agreement with BMO to amend its existing asset-based lending revolving credit facility, extending the facility's term by three years to November 2027, and simplifying and reducing interest rates.
Furthermore, Lifecore Biomedical received an upgraded stock price target from Craig-Hallum, raising it from $8.00 to $10.00 while maintaining a Buy rating. This upgrade followed a recent analyst event where Lifecore outlined new medium-term targets. Craig-Hallum highlighted the company's growth prospects and margin expansion potential, driven by factors such as excess domestic capacity and strong growth in the injectable market.
In addition to financial restructuring and analyst upgrades, Lifecore has also expanded its capacity with a new high-speed filler and secured agreements with four new customers. These recent developments underscore Lifecore Biomedical's commitment to driving operational efficiencies and increasing capacity utilization.
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