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GEN News Highlights : Aug 28, 2013

ICIG Acquiring Peptisyntha, Joining It to CMO CordenPharma

International Chemical Investors Group (ICIG) will acquire from Solvay Group Peptisyntha, a contract manufacturer of custom pharmaceutical peptides, for an undisclosed price. The deal expands ICIG’s peptide-synthesis capabilities while enabling Solvay, an international chemical group, to exit from life sciences activities.

ICIG said in a statement it would fold Peptisyntha into its CordenPharma pharmaceutical contract manufacturing business and transform Peptisyntha, based in Brussels, Belgium, into its third peptide manufacturing site among the eight facilities listed on CordenPharma’s website. The acquisition is expected to close “later this fall.”

“Together with our solid-phase, hybrid synthesis, and development capacities at our sites in Boulder, Colorado, and Liestal, Switzerland, we will be in an excellent position to offer customers the full range of peptide synthesis strategies and services,” said Christian Ewers, COO of CordenPharma’s API business.

Peptisyntha, he added, enables CordenPharma to add liquid phase synthesis capabilities and skilled staffers.

The acquired company’s U.S. sister company, Peptisyntha Inc. based in Torrance, CA, is not part of the transaction. However, some of its customer relationships will be assumed by Peptisyntha in Brussels, CordenPharma said.

Formed in 2006, CordenPharma generated €330 million ($440.8 million) in annual sales as of June 3, when the company announced a restructuring into two business groups, active pharmaceutical ingredients (APIs) and drug products. CordenPharma carries out cGMP contract development and manufacturing (CDMO) of oral, sterile, highly potent and antibiotic pharmaceutical drug products, their APIs, and associated packaging services.

ICIG, a private holding company for mid-sized chemicals and pharmaceutical businesses, generates about €800 million (about $1.1 billion) in annual sales.