CMC Biopharmaceuticals A/S said it has reached an agreement to buy Eli Lilly and Company's recently acquired biologics development and manufacturing operation for an undisclosed amount.
Eli Lilly acquired the Bothell, Washington-based biologics facility from ICOS Corporation in January 2007.
The new operation, CMC ICOS Biologics Inc., which will expand the Danish company's operations into the United States, will continue to develop and manufacture therapeutic proteins for early clinical trials for its customers. CMC is planning significant investment in the facility to enable production of late stage clinical trial and commercial biopharmaceuticals.
"We're extremely excited about our acquisition of ICOS Biologics. We feel strongly that the skills inherent in the employees that work here are of great value to the biologics industry and will complement the abilities of our expert workforce in Europe," said David Kauffmann, chairman, CMC. "Our plans to upgrade the facility in order to manufacture commercial product will mean that we can provide additional services to both existing and new clients. Moreover, by establishing a presence in the USA, we've placed CMC in an enhanced position to actively seek opportunities to grow our business," said Mads Laustsen, CEO, CMC.
As a part of the agreement, CMC will retain the existing 127 employees working at the biologics facility in Bothell, which continued to operate after being purchased by Lilly.
"Finding the right company to acquire the ICOS biologics operation has been a priority for Lilly," said Gino Santini, senior vice president, corporate strategy and business development Lilly. "We are pleased that CMC has committed to retaining the existing staff and serving its current customers. As well, CMC keeps an important biotech presence in Seattle in the Puget Sound region of Washington State, which could ultimately generate broader economic growth and opportunity for the region."
Based in Copenhagen, Denmark, CMC is a European leading contract development and manufacturing organization which provides fully integrated biopharmaceutical development and manufacturing services to clients around the world, taking their projects from gene to licensed product. The company specializes in custom services for the scale-up and cGMP manufacture of protein-based therapeutics for pre-clinical, clinical trials and in-market production.
Lilly, a leading innovation-driven corporation, is developing a growing portfolio of first-in-class and best-in-class pharmaceutical products by applying the latest research from its own worldwide laboratories and from collaborations with eminent scientific organizations. Headquartered in Indianapolis, Indiana, Lilly provides answers through medicines and information for some of the world's most urgent medical needs.