RXQ Compounding is an FDA-approved 503B outsourcing facility that manufactures sterile and non-sterile medications and more than 160 formularies used in hospitals and physician offices, including products like lidocaine. Founded in 2015 out of the Ohio University Innovation Center, the company is licensed to ship to 38 states and Washington, D.C. RXQ serves a growing market: hospital outsourcing of compounding has risen markedly over recent decades, increasing demand for outsourced compounded pharmaceuticals. The company plans to expand its new Albany manufacturing facility, boost research and development, and scale its workforce. RXQ expects the expansion to create as many as 100 new jobs and to become the largest employer in Athens County. The article reports a nearly $3.6 million capital investment to support these expansion and R&D plans. RXQ Compounding manufactures a range of sterile and non-sterile medications, including injectables, veterinary products, dermatologic creams and ointments, ophthalmic solutions, orthopedic steroids, and custom hospital production. Led by CEO Ed Zatta, the company is licensed to ship to 38 states and Washington, D.C., with licenses for additional states forthcoming. RXQ currently serves more than 500 customers and employs roughly 100 people across Columbus and Athens. The company plans to use new funding to open an FDA 503B outsourcing facility for pharmacy compounding in the Appalachian area of Southeast Ohio. That new facility is expected to employ hundreds, expanding RXQ’s manufacturing capacity and regional employment footprint.

Total raised

$1M

Funding rounds

2

Latest round

Equity

Latest activity

Aug 2018