Thermo Fisher Scientific to acquire Brammer Bio for $1.7bn
Thermo Fisher Scientific, a biotechnology product development company with headquarters in Waltham, Massachusetts, has announced its entrance into a definitive agreement with Brammer Bio, a leader in viral vector manufacturing for gene and cell therapies. The deal, which is expected to close in Q2, 2019, will see Thermo Fisher Scientific pay a total cash consideration of US$1.7bn for Brammer Bio.
"Brammer Bio will be an exciting addition to our pharma services business and will further strengthen Thermo Fisher's leadership in serving pharma and biotech customers," said Marc N. Casper, president and chief executive officer of Thermo Fisher Scientific. "Gene therapy is an area of increasing focus for our customers and is fast-evolving given its potential to treat a range of genetic disorders. The combination of Brammer Bio's viral vector capabilities with our GMP production expertise and proprietary bioprocessing and cell culture technologies uniquely positions us to partner with our customers to drive the evolution of this incredibly fast-growing market. The transaction is perfectly aligned with our Mission to enable our customers to make the world healthier, cleaner and safer."
Brammer Bio is expected to generate $250mn in revenue over the course of 2019, and is expected to continue growing at a rate of approximately 25% for the next few years.
With its major operations based in Massachusetts and Florida, Brammer Bio’s 600 employees will join Thermo Fisher Scientific’s 70,000-strong employee network.
Speaking on behalf of Brammer Bio, co-founders Mark Bamforth, president and chief executive officer, and Dr. Richard Snyder, chief scientific officer, commented, "We are proud to be pioneers in process development and manufacturing of viral vectors. Brammer Bio has executed more than 100 projects to supply first-in-human gene therapy clinical trials and establish commercial-ready processes, and we're excited to join Thermo Fisher to take our business to the next level. Our teams share a commitment to helping our customers succeed in delivering cutting-edge therapies to patients in need."
Michel Lagarde, president of Thermo Fisher's pharma services business, added, "By leveraging our combined capabilities, along with our commercial scale and customer relationships, we will strengthen our position as a trusted partner to pharma and biotech. We look forward to welcoming the Brammer Bio team to our company and working together to make more life-saving treatments available to patients."