On Oct. 1, 2013, Capsugel announced it had completed its acquisition of Bend Research. The company was founded in 1975 by Harry Lonsdale and Richard Baker using the SBA’s Small Business Innovation Research program to develop synthetic membranes.

Bend Research worked exclusively with Pfizer to develop new drug delivery technologies for over a decade. In 2008, terms of the Pfizer agreement changed from exclusive to non-exclusive and the company began to independently offer it’s drug delivery expertise and technologies to other firms.