Copenhagen-based CMC Biopharmaceuticals, a leading provider of contract biomanufacturing services, yesterday announced the acquisition of US company ICOS Biologics Operation located in Bothell WA. The seller is the major US pharmaceutical firm Eli Lilly and Company, which acquired the operation when it purchased ICOS Corporation in January 2007. No price details have been disclosed.
The 127 employees at the Bothell facility will be retained in the new company, CMC ICOS Biologics Inc., which will continue to develop and contract manufacture therapeutic proteins for early clinical trials. CMC is planning investments in the facility to enable production of late stage clinical trial and commercial biopharmaceuticals.
Mads Laustsen, CEO of CMC, is clearly pleased at the prospect of expanding CMC’s operations into the US. “Our plans to upgrade the facility in order to manufacture commercial product will mean that we can provide additional services to both existing and new clients. Moreover, by establishing a presence in the USA, we’ve placed CMC in an enhanced position to actively seek opportunities to grow our business,” he says in a press release.
From the Evergreen State's perspective, the deal has the twin benefits of preserving a key biotech presence and protecting local jobs. Washington Biotechnology & Biomedical Association President Jack Faris comments: “WBBA is delighted to welcome CMC. We look forward to their participation in the future of life sciences in Washington."
Headquartered in the Copenhagen suburb of Søborg, CMC Biopharmaceuticals specialises in custom services for the scale-up and cGMP manufacture of protein-based therapeutics for pre-clinical, clinical trials and in-market production. 2006 revenues were around DKK 15 m (USD 3 m) and the company employs 147 staff.