Evonik Acquires Transferra Nanosciences

Evonik, a German creative industrial group focused on specialty chemicals, announced on June 28, 2016 that it has acquired Transferra Nanosciences, a biotechnology company based in Canada, for an undisclosed amount, the company said in a press announcement. According to Evonik, the transaction is scheduled to close at the end of July 2016. The acquisition allows Evonik to further expand the portfolio of its Business Line Heath Care in the area of parenteral drug delivery technologies and services.

Transferra is a contract development and manufacturing organization (CDMO) that services biotechnology companies developing pharmaceutical products. Transferra services include prototype identification, scale-up and process development, analytical support and qualification of methods, production of test articles for toxicology studies, and cGMP manufacturing of clinical trial materials. Evonik Health Care is a provider of formulation development and GMP manufacturing services to the pharmaceutical industries for advanced parenteral drug depot formulations.

Source: Evonik