Broadens company’s life sciences application, pharmaceutical formulation and drug delivery capabilities
The Lubrizol Corporation has acquired Particle Sciences, a leading contract drug development and manufacturing organisation with a comprehensive suite of services for the formulation, analysis and production of complex drug delivery solutions. Particle Sciences will now be part of Lubrizol Advanced Materials but will retain its company name. Financial terms of the transaction were not disclosed.
Headquartered in Bethlehem, PA, Particle Sciences is a global leader in complex formulations including drug eluting device product development as well as sterile and particulate drug products. This acquisition further expands Lubrizol LifeSciences’ pharmaceutical development capabilities, providing full service drug delivery solutions to the market across a variety of dosage forms.
'Particle Sciences and Lubrizol LifeSciences have worked together for several years providing various elements of an end-to-end solution from polymer supply through formulation and commercial manufacturing,' said Mark Mitchnick, CEO, Particle Sciences. 'With this transaction, Lubrizol LifeSciences acquires Particle Sciences’ extensive formulation, analytic and production assets for drug eluting devices, particulate, sterile and other complex drug products established over the last 10 years. We expect that co-ordinating all of this under one company will greatly benefit our customers.'
'With the addition of Particle Sciences and the recent acquisition of Vesta, we are now able to offer customers a complete solution that is one of the most comprehensive in the industry,' added Deb Langer, Vice President and General Manager, Lubrizol LifeSciences. 'Additionally, the Particle Sciences acquisition allows us to leverage our core polymer chemistry into tailored solutions for novel implantable and dermal drug delivery systems for improved patient outcomes.'