ten23 health

Executive Summary

ten23 health is a Swiss-based Contract Development and Manufacturing Organization (CDMO) specializing in sterile injectable drug products. Founded in 2021 and headquartered in Basel, with additional facilities in Visp, Switzerland, the company positions itself as a human-centric and sustainable partner for pharmaceutical companies and biotech startups. It offers formulation development, analytical testing, and sterile fill & finish manufacturing. Notably, ten23 health is a certified B Corporation, reflecting its commitment to social and environmental performance. The company operates in the drug delivery and digital health categories, though its primary focus is on CDMO services for sterile injectables. As a relatively new entrant in the CDMO space, ten23 health is in the pre-clinical stage, which for a service provider likely indicates early-stage commercialization and client acquisition. The company lacks publicly disclosed funding or valuation data, and its employee range is unspecified. Despite these uncertainties, ten23 health is well-positioned to benefit from growing demand for sterile injectable manufacturing, driven by the rise of biologics and complex generics. Key near-term catalysts include securing major client contracts, expanding manufacturing capacity, and obtaining regulatory approvals such as FDA inspections. However, competition from established CDMOs and the capital-intensive nature of the industry pose risks. Our conviction in ten23 health is moderate, reflecting its niche focus and early stage.

Upcoming Catalysts (preview)

• H2 2026Securing a multi-year supply agreement with a top 20 pharmaceutical company60% success
• Q3 2026Completion of facility expansion in Visp to double sterile fill & finish capacity75% success
• Q1 2027Successful FDA inspection of Basel facility50% success