Development of Pharmaceutical Products Evonik Acquires Biotechnology Company Transferra Nanosciences
German chemical company Evonik and Transferra Nanosciences, formerly known as Northern Lipids, have signed an asset purchase agreement to acquire the business and assets of the biotechnology company based in Burnaby close to Vancouver/Canada. Both parties have agreed to not disclose the purchase price. The transaction is scheduled to close at the end of July 2016.
Essen/Germany – Transferra is a Contract Development and Manufacturing Organization (CDMO) that provides services as well as products to biotechnology companies engaged in the development of pharmaceutical products, using the company’s unique expertise in liposomal drug delivery systems. The acquisition allows Evonik to further expand the portfolio of its Business Line Heath Care in the area of parenteral drug delivery technologies and services.
“This transaction reflects our continued commitment to growth in the health care area and in the drug delivery space in particular,” says Dr. Reiner Beste, chairman of the Board of Management of Evonik Nutrition & Care.
Transferra services include prototype identification, scale-up and process development, analytical support and qualification of methods, production of test articles for toxicology studies and cGMP manufacturing of clinical trial materials. In addition Transferra offers a range of benchtop Lipex extruders, as well as custom-built Lipex extruders for large scale manufacture of commercial drug products.
Evonik Health Care has recently developed into a leading provider of formulation development and GMP manufacturing services to the Pharmaceutical Industries for advanced parenteral drug depot formulations, building on the acquisition of the Resomer portfolio of bioresorbable polymers and Surmodics Pharmaceuticals in Birmingham (Alabama/USA).