Avista Pharma Solutions has snapped up the manufacturing, development and animal health services business from rival Scynexis ($SCYX) in a move designed to bulk up its capacity and garner a larger share of the growing market.
Though terms of the sale weren't disclosed, it marks the second such deal in about a week for manufacturing facilities in the Research Triangle Park, NC, area. Last week, Biogen ($BIIB) announced it would buy drug development partner Eisai's manufacturing facility.
Under the Avista deal, the company picks up a development and manufacturing facility in Durham, NC, where it said it plans to rehire "substantially all" the Scynexis employees working there.
Only a month ago, Avista purchased Array BioPharma's ($ARRY) chemistry, manufacturing and controls business. Avista is a subsidiary of pharma contractor Accuratus Lab Services, which is owned by private equity firm Ampersand Capital Partners.
The sale will allow Scynexis, which targets novel anti-infectives, to focus on the development of its lead compound SCY-078, a company spokesman said.
In the Biogen deal last week, the company had been leasing an oral solid-dose operation from Eisai in Research Triangle Park since 2012. But under terms of the deal, it now gets the rest of the facility, including filling lines, and may hire about 100 of the 135 employees that already work there. Terms of the deal weren't disclosed.
- see the Avista/Scynexis announcement (PDF)