Recro Pharma, Inc. (“Recro”), a contract development and manufacturing organization (CDMO) dedicated to solving complex formulation and manufacturing challenges primarily in small molecule therapeutic development, on Tuesday announced that it is changing its name to Societal CDMO, Inc. to reflect the corporate transformation that has taken place primarily as a result of its acquisition and successful integration of IriSys, Inc. into the organization.
Since the August 2021 acquisition of IriSys, Societal CDMO has worked to strategically and thoughtfully integrate that business into its legacy operations to establish a stronger and more versatile CDMO capable of attracting and efficiently servicing a broader range of customers domestically and abroad. The result of these efforts has been the successful expansion of Societal CDMO’s physical footprint to include facilities on both coasts of the U.S., significant diversification of its customer base, expansion of its suite of service offerings, and enhancement of its industry expertise through augmentation of its leadership and employee base. The new identity is intended to capture the company’s vision for establishing itself as a premier, trusted growth-focused CDMO that is expertly and actively facilitating its customers’ objectives of delivering impactful medicines to society.
David Enloe, chief executive officer of Societal CDMO said:
When we set out to rebrand Recro, we sought a name and identity that carried with it a purpose, one which exemplified the commitment our employees demonstrate every day to making a positive impact within communities across the country and around the world. At the same time, we were also focused on effectively communicating our evolution as a partner to our clients, as well as our people, both today and in the future. We believe the name Societal CDMO, along with our new tagline of ‘Bringing Science to Society,’ captures not only where we find ourselves as a company today, but it reflects our inspiration for future growth as an organization.
Effective at market open on Tuesday, March 22, 2022, trading for Societal CDMO will begin under the symbol “SCTL” . The company’s common stock will continue to trade under the ticker symbol “REPH” until market close today, March 21, 2022. The corporate name change to Societal CDMO does not affect the rights of the company’s stockholders and no action is required by stockholders with respect to the name change. Outstanding stock certificates are not affected by the name change and will not need to be exchanged.
