- Posted by ISPE Boston
- On April 24, 2019
Thermo Fisher Scientific has announced it will acquire Brammer Bio for approximately $1.7 billion in cash. Brammer Bio is a leading viral vector contract development and manufacturing organization (CDMO) with nearly 600 employees at primary locations in Massachusetts and Florida. Brammer Bio is on track to deliver $250 million of revenue in 2019 and expects to continue to exceed the projected market growth rate of 25 percent over the mid-term.
“Brammer Bio will be an exciting addition to our pharma services business and will further strengthen Thermo Fisher’s leadership in serving pharma and biotech customers,” said Marc N. Casper, president and chief executive officer of Thermo Fisher Scientific. “Gene therapy is an area of increasing focus for our customers and is fast-evolving given its potential to treat a range of genetic disorders. The combination of Brammer Bio’s viral vector capabilities with our GMP production expertise and proprietary bioprocessing and cell culture technologies uniquely positions us to partner with our customers to drive the evolution of this incredibly fast-growing market…”
Speaking on behalf of Brammer Bio, co-founders Mark Bamforth, president and chief executive officer, and Dr. Richard Snyder, chief scientific officer, commented, “We are proud to be pioneers in process development and manufacturing of viral vectors. Brammer Bio has executed more than 100 projects to supply first-in-human gene therapy clinical trials and establish commercial-ready processes, and we’re excited to join Thermo Fisher to take our business to the next level. Our teams share a commitment to helping our customers succeed in delivering cutting-edge therapies to patients in need.”
The transaction, which is expected to be completed by the end of the second quarter of 2019, is subject to customary closing conditions, including regulatory approvals. Upon completion, Brammer Bio will become part of Thermo Fisher’s pharma services business within its Laboratory Products and Services Segment. (Source: Thermo Fisher Scientific Website, 24 March, 2019)