AGC Asahi Glass has agreed to acquire Denmark-based CMC Biologics, a producer of monoclonal antibodies, coagulation factors and other therapeutic proteins. The sellers include Monitor Clipper Partners, European Equity Partners and Innoven Partenaires. No financial terms were disclosed. William Blair and Shearman & Sterling advised CMC Biologics on the transaction.
BOTHELL, Wash. and COPENHAGEN, Denmark and BERKELEY, Calif. and TOKYO, Dec. 20, 2016 /PRNewswire/ — CMC Biologics, a global leader in clinical and commercial manufacturing of monoclonal antibodies, coagulation factors and other therapeutic proteins and AGC Asahi Glass (AGC), a world-leading manufacturer of glass, chemicals and high-tech materials, announced today that they have entered into a definitive agreement with CMC Biologics’ shareholders including Monitor Clipper Partners, European Equity Partners and Innoven Partenaires, by which AGC will acquire 100% of CMC Biologics’ shares. This acquisition is expected to close in January 2017.
Founded in Denmark in 2001, as a start-up company, CMC Biologics has grown to be one of the most valued independent CDMO companies in the world. Today with over 500 employees, two commercial-phase manufacturing facilities, and one early-phase manufacturing facility, CMC is one of the leaders in the biologics CDMO industry.
“With the high level of growth and success that CMC Biologics has had over the last 15 years, I am thrilled that we now will be a central part of AGC’s pharmaceutical services business, with biologic manufacturing operations in Europe, U.S.A., and Asia. AGC is a world-class company dedicated to excellence and high customer satisfaction,” said David Kauffmann, Chairman of CMC Biologics. “AGC’s commitment to best technology solutions and longtime partnership with clients align so well with CMC Biologics’ mission to be the preferred biologics CDMO service partner for the world’s top pharmaceutical and biotech companies.”
“Aligning with AGC’s success and long-term business strategy, CMC Biologics is honored to become part of AGC’s Life Science Business. We look forward to leveraging on AGC’s manufacturing expertise and existing CMO footprint, while continuing to provide innovative solutions to our clients,” said Gustavo Mahler, Chief Executive Officer of CMC Biologics. “This transaction provides the ideal ownership for CMC, as AGC fully embraces the goals of customer satisfaction, strong growth and global expansion that define our strategy.”
CMC Biologics will retain its distinct brand and independence. There are no anticipated changes in CMC operations, current leadership team or employee base. CMC Biologics continues to be fully committed to delivering the best solutions for our customers.
About CMC Biologics
CMC Biologics is leading the industry among CDMOs in customer satisfaction, technical excellence, and quality – Right and On Time. With three facilities in the U.S.A. and Europe, the Company provides fully integrated biopharmaceutical development and manufacturing solutions to clients globally. The Company has proven expertise in delivering custom solutions for the scale-up and cGMP manufacture of protein-based therapeutics for pre-clinical, clinical trials and commercial production. CMC Biologics’ wide range of integrated services includes cell line development, bioprocess development, formulation and comprehensive analytical testing. Clients can also benefit from CMC Biologics’ proprietary CHEF1® Expression System for mammalian production. More detailed information can be found at www.cmcbio.com
William Blair and Shearman & Sterling, respectively, acted as financial and legal advisors to CMC Biologics.