International Chemical Investors Group (ICIG) and the Solvay Group have embarked on an agreement, whereby ICIG will purchase Belgium-based Peptisyntha SA, a custom manufacturer of peptides for pharmaceutical use.
Post transaction, which is likely to complete later this year, Peptisyntha will become a member of ICIG's CordenPharma platform as its third site providing peptides manufacturing.
CordenPharma API business chief operating officer Christian Ewers said that the acquisition will enable the company to offer customers the full range of peptide synthesis strategies and services, leveraging its solid-phase, hybrid synthesis, and development capacities.
The Belgian chemical company Solvay is disposing of the business, with a strategy to concentrate on its core industrial activities, and completes the group's exit from life science activities.
Offering an array of applications and customers, the acquired entity, as a CordenPharma member company, will remain executing its growth strategy.
Peptisyntha Inc based in Torrance, California, is not part of the transaction, and certain of its customer relationships will be assumed by Peptisyntha in Brussels.
CordenPharma, which was set up in 2006, is the pharma brand of International Chemical Investors Group. It is a full-service partner for cGMP Contract Development & Manufacturing (CDMO) of oral, sterile, highly potent and antibiotic drug products and associated packaging services.