The UK-based CDMO has expanded its US presence with the acquisition of CiVentiChem, which has a facility in the Research Triangle Park in North Carolina
UK-based CDMO Sterling Pharma Solutions has increased its presence in the US with the acquisition of CiVentiChem’s facility in North Carolina.
The new facility, located close to the Research Triangle Park, will allow Sterling to offer a local presence to its US clients and enhance its chemistry development capabilities to support pre-clinical and early phase clinical supply.
The acquisition follows Sterling’s record growth, with the company more than doubling its sales since its formation in 2016 following a management buy-out (MBO). With the support of its new investor, GHO Capital, the acquisition advances Sterling’s strategy to build a global chemistry services business.
Commenting on the announcement, Kevin Cook, CEO of Sterling Pharma Solutions, said: “We’re delighted to announce our acquisition of CiVentiChem in the US. We’ve been keen to expand our presence in the US market and the site’s capabilities complement our current service offering.
“The North American market now makes up 70% of our customer portfolio which was one of the major reasons behind the decision to look for a facility in the US. This has been primarily driven by the market’s emerging pharma sector and customer demand for our specialist capabilities in complex and challenging chemistry,” Cook explained.
The purchase of the new facility follows the completion of a majority acquisition of Sterling Pharma Solutions by the specialist European healthcare investor, GHO Capital earlier this year.
CiVentiChem is a provider of solutions for complex chemistry problems across the pharmaceutical, biotech and life sciences industry. Founded by Dr Bhaskar Venepalli and Dr Srinivas Chittineni, CiVentiChem’s US facility houses development laboratories and kilo scale cGMP suites.
CiVentiChem will continue to operate out of its own facility in India as a separate entity to Sterling.