Evonik acquires biotechnology company in Canada

Evonik acquires biotechnology company in Canada

7:14 AM, 1st July 2016
Evonik acquires biotechnology company in Canada
Don Enns, president and CEO Transferra Nanosciences Inc and Dr Jean-Luc Herbeaux, head of the health care business line at Evonik at the agreement signing in Vancouver, Canada.

ESSEN, GERMANY: Evonik Industries AG has signed an asset purchase agreement to acquire all the business and assets of Transferra Nanosciences Inc, formerly known as Northern Lipids Inc, a biotechnology company based in Burnaby close to Vancouver (Canada). The transaction is scheduled to close at the end of July.

Transferra is a contract development and manufacturing organization (CDMO) that provides services as well as products to biotechnology companies engaged in the development of pharmaceutical products, using the company’s unique expertise in liposomal drug delivery systems. The acquisition allows Evonik to further expand the portfolio of its business line heath care in the area of parenteral drug delivery technologies and services.

Transferra services include prototype identification, scale-up and process development, analytical support and qualification of methods, production of test articles for toxicology studies and cGMP manufacturing of clinical trial materials. In addition Transferra offers a range of benchtop LIPEX extruders, as well as custom-built LIPEX extruders for large scale manufacture of commercial drug products.

Evonik Health Care has recently developed into a leading provider of formulation development and GMP manufacturing services to the Pharmaceutical Industries for advanced parenteral drug depot formulations, building on the acquisition of the RESOMER portfolio of bioresorbable polymers and Surmodics Pharmaceuticals in Birmingham (Alabama, US).

 “This transaction reflects our continued commitment to growth in the health care area and in the drug delivery space in particular,” said Dr Reiner Beste, chairman of the board of management of Evonik Nutrition & Care GmbH.

“Transferra is delighted to become a part of the Evonik group and is looking forward to bringing together two complementary sets of assets and capabilities in advanced parenteral technologies. The combined expertise in biopolymer microparticles and liposomal nanoparticles will significantly contribute to the development of innovative medicines,” said Don Enns, president and CEO of Transferra.

“The combination of the drug delivery businesses of Transferra and Evonik will form a leading service provider providing a full array of services, ranging from prototype identification to commercial manufacturing”, said Dr Jean-Luc Herbeaux, head of the health care business line at Evonik. “We can now support our customers in the most important areas of complex injectable drug formulation technologies to the benefit of our customers and the patients alike.

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