Lifecore Biomedical Transitions to Standalone CDMO, Aims for 60% Utilization by 2029

Lifecore Biomedical has completed its transition into a standalone CDMO after divesting its food businesses and now operates primarily from its Chaska, Minnesota site focused on HA fermentation for highly sterile injectables and sterile injectable contract manufacturing. The company is operating at about ~20% capacity today and expects to reach ~60% utilization by 2029, which will drive revenue and margin expansion toward an EBITDA margin >25% and an updated mid-term revenue range of $212-$225 million.