DCAT Week ’17 Announcement Forum: CMC Biologics Updates Acquisition by AGC Asahi GlassBy
Robert Broeze, PhD
Robert Broeze, PhD, Chief Business Officer. CMC Biologics, outlined the operational focus for the company following the company’s acquisition by AGC Asahi Glass (AGC), a Tokyo-based manufacturer of glass, chemicals and high-tech materials, earlier this year. ACG acquired CMC Biologics, a contract development and manufacturing organization (CDMO) for monoclonal antibodies, coagulation factors, and other therapeutic proteins for approximately Japanese Yen 60 billion ($511 million).
Under the acquisition, CMC Biologics retains its brand and independence, and there are no anticipated changes in CMC operations, current leadership team, or employee base. The company has production facilities in Copenhagen and in Seattle, Washington, and Berkeley, California.
AGC has been engaged in the contract manufacturing business since the early 2000’s, and its acquisition of CMC Biologics is part of AGC’s strategy to expand its biologics CDMO operations. AGC currently has biologics CDMO operations in Japan and Europe, which further adds to CMC Biologics’ offering, including additional microbial fermentation capacity. Under its management policy, the AGC Group has designated its life-science business as one of its strategic growth areas, and the CMC acquisition is part of that growth strategy. With the acquisition, CMC Biologics’ Seattle site has become the headquarters site for AGC’s Life Sciences business.