CoreRx strikes $130M deal to snap up struggling small-molecule specialist Societal CDMO
Several months after Societal CDMO launched a restructuring campaign that led to 26 layoffs, the small molecule contract manufacturer has announced it’s being bought by one of its production peers in Florida.
Privately held manufacturer CoreRx has entered a definitive agreement to purchase Societal for $1.10 per share in cash, leading to a total deal value of roughly $130 million, the companies said in a press release late Wednesday.
Societal’s board of directors unanimously approved the deal, which is expected to close early in 2024’s second quarter.
Georgia Life Sciences leads effort to establish bipartisan caucus focused on advancing the state’s growing life sciences economy
A skilled workforce is the engine that will drive growth across America’s biotechnology industry, and Atlanta has built multi-faceted training programs that are developing and sustaining the talent pipeline for everything from advanced laboratory research to industrial biomanufacturing.
On March 12, 2026, Augusta, Georgia served as the setting for an important conversation about the future of American biotechnology and manufacturing. Manus welcomed members of the U.S. National Security Commission on Emerging Biotechnology (NSCEB) to its Augusta BioFacility to highlight how advanced biomanufacturing is strengthening U.S. supply chain resilience and supporting the growing bioeconomy. During the visit, Manus unveiled a significant expansion of its 44-acre Augusta BioFacility, increasing domestic capacity to produce critical biobased ingredients. The expansion further positions Georgia as a key hub for advanced biomanufacturing and demonstrates the growing role of biotechnology in strengthening national economic and supply chain security. Commission members met with leaders from industry, government, and academia to discuss strategies for scaling manufacturing infrastructure, strengthening resilient supply chains, and preparing the workforce needed to support the next generation of the U.S. bioeconomy. The visit also included conversations with Manus employees about the practical realities of building and operating advanced biomanufacturing facilities in the United States. The Augusta site has become one of the largest advanced biomanufacturing facilities in the country, producing a growing portfolio of bioalternatives at industrial scale. Among these products is high-purity Reb M, recently launched as Yume™ M Stevia Sweetener , supported by an all-Americas supply chain. “As we scale the Manus bioalternatives platform, Augusta has become a powerful example of what the modern U.S. bioeconomy looks like in practice,” said Manus Founder and CEO Ajikumar Parayil. The visit underscores Georgia’s expanding leadership in life sciences manufacturing and highlights how regional ecosystems can help advance U.S. leadership in biotechnology and biomanufacturing. Learn more about the expansion and visit: Manus welcomes U.S. National Security Commission on Emerging Biotechnology to unveil major Augusta BioFacility expansion Growing Georgia Biomanufacturing Industry Transforming American Industrial Strength
