From email@example.com | Monday 17 December 2018
East Yorkshire firm signs agreement to acquire market-leading vaccine adjuvant specialist.
East Yorkshire chemicals company Croda International Plc has agreed to acquire Danish pharmaceutical business Brenntag Biosector in £64.7 million deal.
The group, which has a base in Hull, has signed an agreement with Brenntag Nordic to acquire the firm, which specialises in the manufacture and supply of adjuvants serving the human and veterinary vaccine market.
The acquisition of Biosector will give Croda access to an industry-renowned product portfolio of adjuvants, including well-known brands Alhydrogel and Adju-Phos, as well as technically advanced saponin-based adjuvant systems. Croda will gain ownership to Biosector’s rich development pipeline for second and third generation adjuvant platforms. The firm also becomes the only adjuvant supplier in the world with an aseptic and GMP certified manufacturing site for vaccine adjuvants.
Nick Challoner, president of life sciences at Croda said: “Biosector is a rare asset in a high-value, fast-growing sector of the global pharmaceutical market. With an experienced team, Biosector brings world-class innovation and industry-leading manufacturing facilities. The opportunity to quickly build upon Biosector’s impressive track record via our global sales network is enormously exciting and we look forward to welcoming the team to Croda.”
Biosector is a vaccine adjuvant specialist with a product portfolio comprising innovative aluminium and saponin-based adjuvants. The Biosector team, based in Frederikssund, Denmark, will be continue to be led by managing director Peter Tygesen.
Mr Tygesen said: “Croda shares our passion for exciting innovation. Under the Croda umbrella, we look forward to continuing to grow and further establish our research and development into high quality industry-leading adjuvant platforms.”