Bora Pharmaceuticals has entered into an agreement to buy 30.5% of Tanvex Biopharma’s outstanding shares.
This will make Bora the single largest shareholder of the company.
The biologics segment of the company, Bora Biologics, has invested in Tanvex to boost its scale and development capabilities, while also gaining access to the company’s FDA approved commercial-scale biologics facility.
The merger will also involve the appointment of Bora Therapeutics' CEO and Chairperson, Bobby Sheng, onto the Executive Board of the merged organisation.
During the partnership, the pair will leverage their biologics CDMO and operational capabilities to provide a comprehensive range of services to its customers.
This includes Bora’s novel fill/finish capabilities in Maryland US, and Tanvex’s development and manufacturing facilities in the US and Taiwan.
Tanvex will also bring more than 100,000 sqft of biomanufacturing space, offering Bora’s clients effective scalability.
“This strategic investment focuses on both parties’ shared vision for the biologics CDMO business,” said Bobby Sheng.
“It combines Bora’s strong reputation, industry leading quality and global operational resources with Tanvex’s established USFDA-approved commercial scale biologics facility and biosimilar expertise in San Diego. This partnership will enable the combined entity to rapidly respond to evolving industry demands and policy developments, such as the BIOSECURE Act in the US, and capitalise on new opportunities in onshoring, friendshoring, and the growing CDMO demands driven by these policy changes.”
Henry Chen, Chairman and CEO of Tanvex, added, “The strategic investment made by Bora presents an optimal opportunity combine our strengths with Bora’s proven success in building a global CDMO platform characterised by exceptional quality, excellent manufacturing track-record and strong customer relationships.”