Asymchem Laboratories (Tianjin) Co., Ltd., a CDMO serving the global pharmaceutical and biotech industry, agrees to acquire Snapdragon Chemistry, Inc., a U.S.-based chemical technology company providing expertise in continuous manufacturing and early-stage chemical process development services to the pharmaceutical and fine chemical industries, for $57.94 million. The addition will significantly expand Asymchem’s footprint in the U.S., according to the company, offering customers a path from preclinical process R&D through commercial cGMP manufacture.
“We believe continuous flow manufacturing is a revolutionary technology and represents the future of pharmaceutical production, not only generating advantages to process safety and cost, but also bringing tremendous environmental benefits.” says Dr. Hao Hong, chairman and CEO of Asymchem Group. “Asymchem has been deeply committed to flow chemistry technology development and its application expansion in the pharmaceutical industry for more than a decade. We are excited that this strategic acquisition will further strengthen our capabilities in continuous manufacturing, as well as broadening our service scope and client pool.”
The two companies began collaborating in the Fall of 2020 when Asymchem invested in Snapdragon to help expand its cGMP drug substance manufacturing suites, as well as increase its large pharmaceutical and biotech client base. The acquisition will further streamline the transition of clients’ projects from early to late-stage manufacturing and commercialization, according to the company.
Snapdragon will operate as a standalone Asymchem division and continue with its ongoing lab and manufacturing facility expansion with additional capacity to support larger, pilot scale manufacture in Waltham, Mass. The company’s executive leadership team will reportedly remain intact, while working with Asymchem leadership to sustain growth in 2022 and beyond. The deal is expected to close in the second quarter of 2022, pending regulatory approval.
For more information, visit: www.asymchem.com
