What Formulex does

Formulex is a privately held Israeli pharmaceutical contract development and analytical services company headquartered in the Weizmann Science Park, Ness Ziona, established in April 2019 as a continuation of SoluBest Ltd.'s activities in nano-technology based drug delivery and formulation. The company operates a single integrated facility offering formulation development, full analytical and bioanalytical support, and GMP-compliant manufacturing for clinical Phase 1 and Phase 2 supply, targeting pharmaceutical, biotech, nutraceutical, agrochemical, foodtech, and hospital clients in Israel and internationally.

Formulex's core technology platform comprises three patented delivery systems: SOLUMER® (solid dispersion via proprietary spray drying for oral bioavailability enhancement of insoluble-lipophilic compounds), OMEXA® (sublingual transmucosal delivery for faster onset and improved permeability), and NASAX® (intranasal nose-to-brain delivery that bypasses the blood-brain barrier via uniform spherical API particles). These are applied across dosage forms including oral, topical/transdermal, injectable micro-emulsions, inhalation sprays and dry powders, ophthalmic/otic, and rectal/vaginal formulations. The company has developed more than 10 medical cannabis products using SOLUMER and generic technologies, with five in clinical and commercial stages; SOLU-CBD demonstrates a 10x improvement in CBD aqueous solubility with six-month beverage stability.

Revenue is generated primarily through project-based contract formulation and analytical services — development agreements with global and Israeli pharma, biotech, nutraceutical, and agrochemical clients, complemented by clinical-phase GMP manufacturing fees. The go-to-market relies on direct enterprise sales, the corporate website, and conference participation (including Biomed 2023). The company is ISO 9001 certified (extended July 2023), holds a granted patent portfolio across its three core platforms, and is led by the inventor-founders of the technology alongside a board with deep Israeli biopharma venture capital and clinical expertise.

Name

Formulex

Legal name

Formulex LTD

Website

https://formulex-pi.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

1–10 employees

Short description

Formulex is an Israeli CDMO providing GMP-compliant formulation development, analytical services, and clinical Phase 1/2 manufacturing built on patented SOLUMER, OMEXA, and NASAX drug delivery technologies, serving pharma, biotech, nutraceutical, agrochemical, and medical cannabis clients globally.

Ownership category

akta.pro rank

Product category

Pharmaceutical Contract Formulation Services

NAICS

Pharmaceutical Preparation Manufacturing (325412), Scientific Research and Development Services (5417)

SIC

Pharmaceutical Preparations (2834), Services-Commercial Physical & Biological Research (8731)

akta.pro primary industry

Small-Molecule Drug Product (Solid/Oral/Parenteral) CDMO (HLAGABAB)

akta.pro secondary industries

GMP Scale-Up, Tech Transfer & Process Validation (PPQ) (HLAGAHAL), Solid-State Chemistry & Preformulation (Polymorph/Crystallization) (HLAGAHAI)

Keywords

• Pharmaceutical formulation services
• Drug delivery technologies
• Analytical testing services
• Medical cannabis products
• Contract development services

Headquarters

HQ city

Ness Ziona

HQ country

Israel

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Contract Formulation Development Services: Project-based contract services for drug formulation development, including oral, topical, and inhaled dosage forms for clinical phases one and two under GMP conditions. Revenue generated through development agreements with pharmaceutical, biotech, nutraceutical, and agrochemical companies.
2. Analytical and Bioanalytical Services: Full analytical support including method development, validation, stability testing, and quality control services accompanying formulation development projects.
3. Medical Cannabis Product Development: Development services for medical cannabis products using proprietary Solumer™ technology and generic technologies, with five products in clinical and commercial stages.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Formulex is a contract formulation development and analytical services provider specializing in nano-technology based drug delivery. The company offers proprietary delivery platforms (SOLUMER® oral, OMEXA® sublingual, NASAX® intranasal) alongside full formulation development for clinical phase one and two studies under GMP conditions, comprehensive analytical/bioanalytical testing, and a portfolio of medical cannabis products built on the Solumer™ technology.

Product overview

Formulex is a pharmaceutical formulation and analytical services company offering a unified portfolio of proprietary drug delivery technologies and contract services. The core technology platform consists of three patented delivery systems: SOLUMER® (solid dispersion via spray drying for enhanced oral bioavailability), OMEXA® (sublingual transmucosal delivery), and NASAX® (intranasal brain delivery). These are complemented by a comprehensive suite of formulation development services covering topical, oral, injectable, inhalation, and ophthalmic dosage forms, alongside full analytical and bioanalytical testing capabilities. The company also develops medical cannabis products including SOLU-CBD and various cannabinoid delivery formulations. All services are supported by GMP-compliant production for clinical phases one and two.

Differentiator

Problem solved

Functional benefit

Brands

• SOLUMER: A proprietary bioavailability enhancing technology based on interaction of insoluble-lipophilic molecules with polymers resulting in solid compositions that enhance drug bioavailability when in aqueous media.
• OMEXA
• NASAX

Products and services

• SOLUMER®

Quantifiable outcome

• 10x improvement in CBD solubility (from 0.012 mg/ml to 0.12 mg/ml)
• +2 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Scale indicators3 records

Recent moves7 records

Expansion highlights2 records

Broad incumbents

• Catalent: Large global CDMO offering bioavailability and formulation development services (including OptiMelt hot-melt extrusion and spray drying) for clinical and commercial phases. Competes with Formulex on complex-molecule projects but at far greater scale.
• Evonik (Pharma Solutions): Specialty chemicals incumbent supplying functional excipients, drug delivery technologies, and CDMO services including bioavailability enhancement. Broader portfolio but directly relevant for solubility/bioavailability customers.
• Thermo Fisher Scientific (Patheon): Global CDMO offering end-to-end pharmaceutical development and manufacturing services, including formulation for small molecules and clinical/commercial supply. Dominant incumbent against which Formulex competes for biotech formulation projects.

Direct peers

• Quotient Sciences: UK-based CDMO specializing in integrated formulation development, manufacturing, and clinical testing for small-molecule drug programs. Mirrors Formulex's combined formulation + analytical + GMP clinical-phase model.
• Hovione: Portuguese specialty CDMO with deep expertise in spray-dried solid dispersions and bioavailability enhancement, serving the same pharma/biotech clients facing poorly soluble APIs. Closest functional analog to Formulex's SOLUMER-led offering.
• Halo Pharma: Clinical-phase CDMO focused on oral, topical, and inhaled dosage forms with integrated analytical support — same clinical-phase I/II focus and dosage-form portfolio as Formulex.
• Alcami: US specialty CDMO offering formulation development, analytical services, and GMP manufacturing for clinical phases I/II — closely matching Formulex's service scope and customer profile.
• CURE Pharmaceutical: Drug delivery and formulation company focused on cannabinoid and pharmaceutical products using proprietary thin-film and encapsulation technologies. Most direct peer for Formulex's medical cannabis product line.
• Lubrizol Life Science Health: CDMO division of Lubrizol providing bioavailability-enhancing excipients and formulation services, including spray-dried dispersions. Directly competes for the same difficult-to-formulate API projects.
• Avomeen: US contract laboratory and formulation services provider combining analytical, bioanalytical, and formulation development. Comparable boutique scale and integrated service offering to Formulex.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/formulex-pharma-innovations

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Formulex