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Advertisement

Cytovance Biologics Acquired by Hepalink

August 25, 2015
By Pharmaceutical Technology Editors
News
Article

PTSM: Pharmaceutical Technology Sourcing and Management

PTSM: Pharmaceutical Technology Sourcing and ManagementPTSM: Pharmaceutical Technology Sourcing and Management-09-02-2015
Volume 11
Issue 9

Cytovance Biologics anticipates continued expansion plans following acquisition by Hepalink USA

Hepalink USA, a manufacturer of biological API, announced on Aug. 24, 2015 that it has entered into a definitive agreement to acquire Cytovance Biologics, Inc., a biopharmaceutical contract development manufacturing (CDMO) company for $205.7 million in cash and contingent payments.

The addition of Cytovance Biologics to Hepalink USA Inc. and its parent company Shenzhen Hepalink Pharmaceutical Co., Ltd. adds a biologics CDMO to the company’s US portfolio, which includes Wisconsin-based Scientific Protein Laboratories LLC.

A statement announcing the acquisition reports that Hepalink's investment will accelerate Cytovance's expansion plans, which include the addition of 5000-L and 10000-L mammalian reactors, 1000-L and 5000-L microbial fermenters, and increased analytical, process development, process characterization capabilities.

Hepalink's wholly owned US subsidiary, Hepalink USA, will acquire 100% of the equity interest of Cytovance Biologics Inc. After the acquisition, Hepalink will hold 100% of the equity interest indirectly through Hepalink USA.

The transaction is expected to close in October. Cytovance Biologics Inc. will become a fully consolidated subsidiary of Hepalink USA Inc., and Cytovance management will remain in place, as will its 178 employees in the US, according to a press statement.

Source: Cytovance Biologics

 

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Next Step for Elemental Impurities
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Recipharm to Manufacture RedHill Biopharma’s FDC Therapy for Helicobacter pylori Infection
WuXi PharmaTech Supplies Laboratory Testing Services to Lee's Pharm
Cytovance Biologics Acquired by Hepalink
Industry Responds to FDA Metrics Program
Mylan Receives FDA Warning Letter for Manufacturing Sites in India
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Source BioScience Completes Acquisition of Select Pharma Laboratories
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