Acquisition gives Cambrex new API facility in Europe
The Cambrex Corporation, headquartered in Iowa, is expanding its small-scale API development facilities through the purchase of an API research company located in Tallinn, Estonia. The deal was achieved though its Swedish subsidiary Cambrex Karlskoga AB.
The Cambrex Corporation, headquartered in Iowa, is expanding its small-scale API development facilities through the purchase of an API research company located in Tallinn, Estonia. The deal was achieved though its Swedish subsidiary Cambrex Karlskoga AB.
The acquisition, ProSyntest AS, is a privately held business spun off from the Tallinn University of Technology and it has strengths in cost effective chemical route selection and sample generation, rapid scale-up of products at kilo lab scale, as well as chiral and organometallic chemistries.
The deal will enable Cambrex to compete more effectively in the high growth early clinical stage pharmaceutical custom development market and provide it with a pool of talented chemists, said Steven Klosk, executive vice president & COO of Cambrex Corporation.
The deal worth approximately $2m is due to be completed by the end of January. The business will be renamed Cambrex Tallinn after completion of the acquisition. Cambrex intends to add more process and analytical chemists at the site and continue early API development work in Tallinn for scale-up at Karlskoga and the other Cambrex manufacturing facilities.
Klosk said the company was also going through the due diligence process for potential acquisitions in India and China.