Thermo Fisher Pays $1.7 Billion for Brammer Bio
US science services company Thermo Fisher Scientific has agreed to buy Brammer Bio for around $1.7 billion, the latest in a spate of gene therapy acquisitions this year by major drugmakers including Roche, Biogen and Pfizer.
Headquartered in Lexington, Massachusetts, USA, Brammer Bio supplies viral vectors for in vivo gene therapy and ex vivo gene-modified cell therapy. The company is owned by Boston-based private equity firm Ampersand Capital Partners together with founders Mark Bamforth and Richard Snyder. It employs 600 employees at locations in Massachusetts and Florida.
Thermo Fisher said the acquisition will strengthen its leadership position in serving pharma and biotech customers. “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,” commented Marc Casper, Thermo Fisher Scientific’s president and CEO.
The acquisition, which remains subject to the usual closing conditions and regulatory approvals, is expected to close by the end of the second quarter of 2019.
Upon completion, Brammer Bio will become part of Thermo Fisher’s pharma services business within its Laboratory Products and Services segment. Thermo Fisher added that Brammer Bio is on track to deliver $250 million of revenue in 2019 and expecting to exceed the projected market growth rate of 25% over the medium term.
The company is currently adding gene therapy manufacturing suites in Cambridge and Lexington, Massachusetts. It has hired DPS Group to design the facilities, which are scheduled for completion during the first half of 2019.