Asymchem Acquires Snapdragon Chemistry

Latest Corporate News update ; Pharma

Asymchem Laboratories (Tianjin) Co., Ltd., a leading CDMO serving the global pharmaceutical and biotech industry, today announced its agreement to acquire Snapdragon Chemistry, Inc., a US-based chemical technology company providing industry-leading expertise in continuous manufacturing and early-stage chemical process development services to the pharmaceutical and fine chemical industries for US $57.94 million. This addition will significantly expand Asymchem’s footprint in the US, offering customers a seamless path from preclinical process R&D through commercial cGMP manufacture.

“We believe continuous flow manufacturing is a revolutionary technology and represents the future of pharmaceutical production, not only generating advantages to process safety and cost, but also bringing tremendous environmental benefits.” said Dr Hao Hong, Chairman & CEO of Asymchem Group. “Asymchem has been deeply committed to flow chemistry technology development and its application expansion in the pharmaceutical industry for more than a decade. We are excited that this strategic acquisition will further strengthen our capabilities in continuous manufacturing, as well as broadening our service scope and client pool.”

The two companies began collaborating in the Fall of 2020 when Asymchem announced a strategic investment in Snapdragon to help expand its cGMP drug substance manufacturing suites, as well as increase its large pharmaceutical and biotech client base. This acquisition will further streamline the transition of clients’ projects from early to late-stage manufacturing and commercialization.

“We are thrilled to be joining Asymchem, a company that shares our passion for advancing chemical manufacturing technology,” said Snapdragon President and CEO, Dr Matthew Bio. “Asymchem truly understands that commitment and we look forward to continuing to develop the high-quality solutions we are known for in their integrated service ecosystem.”

Snapdragon will operate as a standalone Asymchem division, and continue with its ongoing lab and manufacturing facility expansion with additional capacity to support larger, pilot-scale manufacture in Waltham, MA. The company’s executive leadership team will remain intact while working with Asymchem leadership to sustain growth in 2022 and beyond.

The deal is expected to close in the second quarter of 2022, pending regulatory approval.

Tags : #Asymchem #Snapdragon #LatestPharmaNewsUpdate

About the Author


Team Medicircle

Related Stories

Loading Please wait...

-Advertisements-




Trending Now

10 reasons why media research and Planning are essential in Healthcare marketingMarch 29, 2024
The Surprising Link Between Sleep and Age Perception: What You Need to KnowMarch 29, 2024
The Dark Side of Beauty: Kidney Damage from Hair Straightening TreatmentsMarch 29, 2024
The Dark Side of Beauty: Kidney Damage from Hair Straightening TreatmentsMarch 29, 2024
Avance Clinical at World Vaccine Congress to Share Latest Vaccine Clinical Trial News Including an HIV-1 StudyMarch 29, 2024
Sexual wellness superstore, Love Depot launches digital campaign to deliver every desireMarch 28, 2024
Recharge Your Life: Simple Ways to Boost Your Physical and Mental EnergyMarch 28, 2024
The Neurological Toll of Common Household Chemicals: Insights from Recent ResearchMarch 28, 2024
The Aging Puzzle: Decoding the Mechanisms of AgingMarch 28, 2024
The Double-Edged Sword of Kala-azar Treatment: Shedding Light on Eye ComplicationsMarch 28, 2024
FTCCI Launches Industry-Academia Connect to improve the employability of Engineering Graduates and address the growing demand for Talent in Emerging TechMarch 27, 2024
NTT and Olympus Begin World's First Joint Demonstration Experiment of Cloud Endoscopy SystemMarch 27, 2024
NTT and Olympus Begin World's First Joint Demonstration Experiment of Cloud Endoscopy SystemMarch 27, 2024
2nd Edition of IIFL JITO Ahimsa Run for peace & for non-violence to be held on 31st MarchMarch 27, 2024
Brij Hotels Announced 4 Million in Series A Funding March 27, 2024
Combatting Childhood Sedentariness: The Key to Preventing Premature Vascular DamageMarch 27, 2024
Crucial Findings: Unlocking Paths to Combat Ebola's DevastationMarch 27, 2024
Guarding Against Disease: The Crucial Role of Oral Hygiene in Preventive HealthcareMarch 27, 2024
Sanofi & Cipla announce exclusive distribution partnership to expand reach of CNS portfolio in IndiaMarch 26, 2024
Surmandal's Tribute to the Legends of Hindustani Classical MusicMarch 26, 2024