East Rutherford-based Cambrex, a global contract development and manufacturing organization (CDMO) providing drug substance, drug product, and analytical services, has entered into a definitive agreement to acquire Snapdragon Chemistry, a provider of chemical process development services to a broad range of emerging and established biopharma customers.
Snapdragon specializes in active pharmaceutical ingredient (API) batch and continuous flow process development, utilizing state-of-the-art automation technology and proprietary equipment to solve complex process and analytical development challenges. The team of scientists and engineers apply deep process understanding afforded by data-rich experimentation to design and rapidly execute efficient GMP and non-GMP manufacturing processes. With R&D and manufacturing headquartered in Waltham, Massachusetts, Snapdragon’s 74 employees come with strong ties to the local scientific community, with 31 PhD scientists on staff.
“The acquisition of Snapdragon will accelerate our growth in the area of continuous flow process development and manufacturing, complementing our recent organic investments in our High Point, North Carolina facility,” said Tom Loewald, CEO of Cambrex. “With R&D and manufacturing capabilities in the heart of Boston’s biopharma hub, Snapdragon will continue to focus on solving their customers’ most difficult process development challenges.”
“We are excited to be joining Cambrex, a company with over 40 years of drug substance development and manufacturing expertise,” said Matt Bio, CEO of Snapdragon. “Partnering our best-in-class process development capabilities with Cambrex’s larger scale manufacturing facilities in North America and Europe is a natural fit, both for our employees and our customers.”
Snapdragon recently opened its second facility, a new 51,000-square-foot facility to manufacture experimental pharmaceutical products for human clinical trials. The new facility expanded the company’s capacity for supplying clinical intermediates and drug substances.
The transaction is expected to close following the completion of customary regulatory approvals. This will be Cambrex’s second acquisition within a year along with Q1 Scientific, consistent with its strategy to expand its portfolio of specialized solutions for pharmaceutical development and manufacturing.
To access more business news, visit NJB News Now.Related Articles: