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July 03, 2015 4:50 PM ET

Biotechnology

Company Overview of Lifecore Biomedical, LLC

Company Overview

Lifecore Biomedical, LLC is engaged in the development, manufacturing, and marketing of hyaluronan based specialty medical products. The company offers pharmaceutical grade sodium hyaluronate for various medical applications, including ophthalmology, orthopedics, aesthetics, tissue engineering, and veterinary medicine. It also provides various research products, including research grade sodium hyaluronate powder used in laboratory experiments to ensure reproducibility of research observations; and Corgel biohydrogel, a biocompatible hyaluronan hydrogel based on di-hydroxyphenyl linkages of tyramine substituted sodium hyaluronate for various applications, such as adhesion prevention, aestheti...

3515 Lyman Boulevard

Chaska, MN 55318

United States

Founded in 1965

241 Employees

Phone:

952-368-4300

Fax:

952-368-3411

Key Executives for Lifecore Biomedical, LLC

President
Age: 59
Director of Finance
Chairman of Landec Corp and Chief Executive Officer of Landec Corp
Age: 66
Chief Scientific Officer and Vice President
Age: 60
Vice President and General Manager
Age: 52
Compensation as of Fiscal Year 2015.

Lifecore Biomedical, LLC Key Developments

Heron Therapeutics, Inc. Enters into Commercial Manufacturing Services Agreement with Lifecore Biomedical, LLC

Effective May 27, 2015, Heron Therapeutics Inc. entered into a commercial manufacturing services agreement, with Lifecore Biomedical, LLC. Pursuant to the agreement, Lifecore will manufacture the Company's lead product candidate, SUSTOL (granisetron injection, extended release), for commercial use, subject to FDA approval. The Company will provide Lifecore with certain raw materials, equipment and proprietary information necessary in connection with the manufacturing services, as well as binding and non-binding forecasts for the purchase of SUSTOL, which Lifecore is required to manufacture, subject to certain terms and conditions. The initial term of the Agreement is seven years from the effective date, subject to early termination under certain circumstances, and renewal options.

Lifecore Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended March 1, 2015

Lifecore announced unaudited earnings results for the third quarter and nine months ended March 1, 2015. For the quarter, the company reported revenue of $14,799,000 against $20,176,000 a year ago, due to expected lower shipments from a one-time inventory adjustment by a key Lifecore customer. Net income was $4,099,000 against $9,691,000 a year ago. For the nine months, the company reported revenue of $29,928,000 against $37,539,000 a year ago. Net income was $3,406,000 against $10,936,000 a year ago.

Lifecore Reports Unaudited Earnings Results for the Fourth Quarter and Full Year Ended May 25, 2014; Provides Earnings Guidance for the Fiscal 2015

Lifecore reported unaudited earnings results for the fourth quarter and full year ended May 25, 2014. For the quarter, the company reported revenues of $8.165 million compared to $8.238 million a year ago. Net income was $0.526 million compared to $0.945 million a year ago. For the year, the company reported revenues of $45.704 million compared to $41.281 million a year ago. Net income was $11.462 million compared to $9.414 million a year ago. For fiscal 2015, the company expects revenues to be down 5% to 10% and operating income to be down 30% to 35% as a result of the one-time inventory reduction during fiscal 2015 by one of Lifecore's customers.

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