Agilent Technologies Inc. has acquired privately held SynPro Corp., the owner of a contract manufacturing facility established to supply active pharmaceutical ingredients and provide related services. Financial details were not disclosed.
Based in Boulder, Colo., the facility manufactures short synthetic DNA and RNA molecules that are becoming more important to the pharmaceutical and biotech industries as components of drugs for use in clinical trials. Emerging biopharmaceutical companies engaged in drug development will increasingly need to rely upon the technical expertise and operating sophistication of their vendors for successful commercialization of complex components.
The acquisition will enable Agilent to offer an array of value-added services, including development of analytical methods and processes, stability studies, quality control, and regulatory support.
"Agilent has identified RNA synthesis as an excellent growth opportunity," said John Eaton, Agilent vice president, Corporate Development. "Acquiring SynPro is a strategic move for us. We are gaining first-rate manufacturing capabilities and deep expertise that will open the door for Agilent to an exciting new market."
Based on Agilent and industry estimates, the size of the combined RNA and DNA synthesis market is approximately $700 million in 2006, with anticipated growth in the range of 10 to 20 per cent per year.
"Joining Agilent is a good fit for SynPro," said James Powell, SynPro CEO. "SynPro's focus on innovation, analytical rigor, and dedication to providing the highest quality products and services are consistent with Agilent's approach to doing business."
SynPro was established in December 2005 by James Powell, CEO, and Kevin Nash, COO and general counsel, to acquire the contract manufacturing facility in Boulder, Colo. Agilent has hired 22 employees associated with this transaction, most of whom have been working together at the Boulder facility since 2002.
SynPro will join the New Business Group within Agilent, which is chartered to develop new businesses consistent with Agilent's growth strategy.