NovaQuest Private Equity has announced it has acquired CoreRx.

CoreRx, based in Clearwater, Fla., is a contract development and manufacturing organization that serves small to mid-sized pharmaceutical and biotech organizations. Founded in 2006, the company offers preformulation, formulation, analytical and stability, clinical manufacturing, commercial manufacturing and packaging services.

NovaQuest Private Equity is the private equity group of NovaQuest Capital Management. Based in Raleigh, N.C., and formed in 2000, NovaQuest Capital Management provides strategic capital to life science and healthcare companies.

Terms of the acquisition were not disclosed.

Affiliates of Signet Healthcare Partners, a prior CoreRx investor, retains a minority position.