East Rutherford-based Cambrex announced Nov. 21 it entered into an agreement to acquire Snapdragon Chemistry, a leading U.S.-based provider of chemical process development services.
“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, N.C., 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.”
Snapdragon recently opened its second facility, a new 51,000-square-foot space, to manufacture products for clinical trials. The site also expands the company’s capacity for supplying clinical intermediates and drug substances.
“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.”
The transaction, which is expected to close following regulatory approvals, will be Cambrex’s second acquisition within a year, following its addition of Q1 Scientific. Cambrex says the moves are consistent with a strategy to expand its portfolio of specialized solutions for pharmaceutical development and manufacturing.