Cambridge Major Laboratories and AAIPharma Services Announce Merger
GERMANTOWN, Wis. & WILMINGTON, N.C.-October 02, 2013-- Cambridge Major Laboratories, Inc. ("CML"), a global leader in pharmaceutical API development and manufacturing, and AAIPharma Services Corp. ("AAIPharma"), a leading global provider of pharmaceutical analytical testing, product development, and manufacturing services, have announced their intent to merge to form the premier global supplier of integrated CMC services. Financial terms of the merger were not disclosed. The merger is expected to close by the end of October 2013, subject to Hart-Scott-Rodino approval and other closing conditions. "The basis for the merger was to start with the right building blocks - a merger of two equals: two highly respected, market-leading firms with proven expertise in API development, analytical chemistry, and finished dosage forms," said Brian Scanlan, CEO & President of CML. "We believe that we have a strong foundation to deliver superior customer-oriented solutions to expedite drug development and commercialization."
Scanlan added, "Joining forces to offer a full suite of integrated CMC services delivers meaningful value to customers and the ability to execute with equal strength across API development, analytical services, and finished dosage form manufacturing. The combined CML and AAIPharma will provide a superior customer experience defined by high-quality facilities, best-in-class capabilities, scientific expertise, geographic proximity, and effective support services that maximize scientific and project interaction at each phase."
"The merger of these two organizations will offer customers a reliable partner that can address the majority of their pharmaceutical development and manufacturing requirements," stated Patrick Walsh, CEO of AAIPharma Services. "The combined organization will provide comprehensive services that include process chemistry, solid state chemistry, API manufacturing, formulation development, analytical development and testing services, clinical and commercial finished dosage form manufacturing (oral solid and sterile), packaging, and stability services, all supported by robust project management."
About Cambridge Major Laboratories, Inc.
Cambridge Major Laboratories, Inc. (CML) is a leading global chemistry outsourcing partner to the pharmaceutical and biotechnology industries. The Company produces pharmaceutical intermediates and Active Pharmaceutical Ingredients (API), from early preclinical development to commercial manufacturing. Operating from FDA-inspected facilities in the US and Europe, CML is organized along five key Centers of Excellence, including: Process Chemistry, GMP Manufacturing, Solid State Chemistry, Analytical Services, and Quality/Regulatory Compliance. CML is a portfolio company of American Capital, Ltd. (NASDAQ: ACAS).
For more information on the company, visit www.c-mlabs.com
About AAIPharma Services Corp.
AAIPharma Services Corp. is a leading provider of contract services that support all phases of drug development. The company's wide array of capabilities includes analytical and formulation development, material testing services, microbiology, clinical and commercial contract manufacturing, pharmaceutical packaging, and stability services. Serving more than 600 clients around the globe and headquartered in Wilmington, N.C., AAIPharma is a portfolio company of Water Street Healthcare Partners, a strategic investor focused exclusively on health care.
For more information on the company, visit www.aaipharma.com.
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CONTACT: Media Contacts:
Kim Black-Washington, 1-262-955-4715
AAIPharma Services Corp.
Jeff A. Parrott, Ph.D., 1-800-575-4224
Cambridge Major Laboratories Home Page
AAIPharma Home Page
SOURCE: Cambridge Major Laboratories, Inc. Copyright Business Wire 2013
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