Patheon Adds Complex Solubility Expertise With Acquisition of Agere
Number One Provider of Pharmaceutical Development Services to Establish Global Solubility Center of Excellence in Western United States
DURHAM, NC--(Marketwired - March 09, 2015) - Patheon, a leading global provider of high-quality drug development and delivery solutions to the pharmaceutical and biopharma sectors, has reached a definitive agreement to acquire Agere Pharmaceuticals, a privately held CDMO, headquartered in Bend, Ore., that specializes in improving the absorption rate of medications (bioavailability).
Agere is a recognized leader in helping customers improve the delivery of their medications through fundamental science, solubilization expertise and solubilization technologies. The Bend, Ore., facility is expected to serve as a solubility center of excellence and be part of Patheon's pharmaceutical development services (PDS) operations. By combining Agere's solubility expertise with Patheon's large-scale global network of scientists, development and manufacturing capabilities, those customers seeking to improve drug absorption rates will have support from early development through commercialization.
"We see a growing need to offer customers an integrated, agnostic approach to address their development and drug delivery needs. Agere adds a new capability and allows us to provide customers with formulation expertise for solubility enhancement," said Michael Lehmann, president, global pharmaceutical development services and executive vice president global sales and marketing. "With this acquisition, we strengthen our number one pharmaceutical development services position with a solution that integrates scientific acumen and design automation."
In the last year, Patheon has significantly expanded its capabilities through several key acquisitions, including the addition of a large-scale facility in Greenville, N.C. Patheon's PDS solutions offer a full spectrum of advanced scientific and preformulation services to quickly characterize drug substances, develop and implement laboratory methodologies, and generate the data to enable efficient investigational new drug filings. With the addition of Agere's solubility expertise, Patheon will be well positioned to compete in the growing low solubility market segment.
"We are excited about the opportunity to become a part of Patheon, a recognized leader in the industry and a company that shares our interest in providing outstanding service and support to customers," shared Marshall Crew, Ph.D., president and CEO of Agere. "Our team remains committed to the organization and is focused on implementing a strategy that will help customers address complex solubility issues at any stage of the development lifecycle."
Both Patheon and Agere have excellent track records with regulatory authorities and are widely recognized as leaders in quality. The completion of the transaction is subject to customary regulatory review.
About Patheon
Patheon, a business unit of DPx Holdings B.V., delivers a combination of unrivaled quality, reliability and compliance, with a reputation for scientific and technical excellence to customers in the pharmaceutical and biopharma sector. A leading global provider with more than 8,000 employees worldwide, Patheon has a comprehensive set of solutions to help customers of all sizes satisfy complex development and manufacturing needs at any stage of the pharmaceutical development cycle. For more information, visit http://www.patheon.com.
About AGERE
Agere is a leading CDMO focused on improving the oral bioavailability of insoluble active pharmaceutical ingredients (APIs). The company supports clients from screening to identify the optimal solubilization technology, through formulation design and development into cGMP manufacturing for Phase I through Phase IIb clinical trials. All services follow QbD guidelines, and are delivered on a fee-for-service basis. Agere's proprietary formulation design platform, Quadrant 2™, enables the company to deliver a customized solution for every compound to serve each individual client's requirements. The company is located in Bend, Ore.