China’s 3sBio To Acquire Biomfg Business
3SBio, a Shenyang, China-headquartered biopharmaceutical company, has agreed to acquire the contract development and manufacturing business of Therapure Biopharma, a Mississauga, Ontario, Canada-based biologics manufacturer, for $290 million. 3SBio is executing the purchase by forming a joint-venture company with CPE Funds.
The deal is subject to shareholder approval.
The move is part of a strategy by 3SBio to build its biologics expertise. In 2014, it acquired Sirton, a contract-based pharmaceutical manufacturer based in Italy in 2014, and the company says it continues to search for overseas targets with strong growth potential and complementary capabilities.
The company has biopharmaceutical franchises in oncology, auto-immune diseases, and nephrology. 3SBio manufacturing capabilities include recombinant proteins, monoclonal antibodies, and chemically synthesized molecules, with production centers in China (Shenyang, Shanghai, Hangzhou, and Shenzhen) and Como, Italy.
The CDMO business of Therapure provides therapeutic protein development and manufacturing services, including technology transfer and process development, analytical development and testing, scale-up and cGMP manufacturing, and aseptic fill/finish and lyophilization.
3sBio will retain Therapure’s existing management team to manage integration and lead the next phase of development of the CDMO business.