|Catalent CEO John Chiminski|
Delivery giant Catalent ($CTLT) bought out Micron Technologies, a company that specializes in particle size engineering. The acquisition gives Catalent a leg up in early-stage drug development, according to a release, adding to its slate of oral and inhaled technologies.
Catalent, newly IPO'd, has been scooping up R&D outfits like Micron, recently acquiring antibody-drug conjugate specialist Redwood Bioscience. And U.K.- and Pennsylvania-based Micron fits the bill with its technology to help drug developers give their therapeutics better delivery and bioavailability.
For the undisclosed amount, Catalent gains two new R&D shops and about 100 new employees. Micron also brings to the table its Micronization technology, which reduces the size of particles via the use of fluid energy jet mills. This can make particles more effective as a suspended powder.
"This strategic acquisition allows Catalent to provide an unprecedented set of integrated development solutions and superior drug delivery technologies to the industry, partnering with our customers' R&D teams earlier in the development cycle and helping them deliver better treatments to clinic and to market faster and more efficiently," CEO John Chiminski said in a statement.
In the last few months, New Jersey-based Catalent brought in $418.3 million, an uptick of 1% from the same period last year.
- here's the release