European CMO will concentrate on core strengths and areas of expertise
NextPharma Technologies, a European contract manufacturer for the pharmaceutical, biotechnology and healthcare industries, has sold Bioserv, its US affiliate based in San Diego, CA to private equity firm KESA Partners. No financial details have been revealed.
NextPharma says it will continue to expand its sales and marketing presence in North America and to develop long-term partnerships with North American customers.
Franck Latrille, CEO of NextPharma, said: ‘The divestment of Bioserv represents a successful step in the implementation of NextPharma’s strategy, enabling us to focus our growth strategy on NextPharma’s core strengths and areas of expertise.’
Al Hansen, managing partner at KESA Partners, added: ‘Bioserv is well positioned to benefit from the increased out-sourcing in the pharmaceutical industry. The company has a strong foundation to build upon and to add capabilities to its current service offering.
Bioserv was founded in 1988 as a small boutique contract manufacturing organisation serving the pharmaceutical, medical diagnostics, medical device, biotechnology, and life science reagents industries.
The company has more than 35,000ft2 of facilities whose core competencies include aseptic and non-aseptic bulk formulation, filtration, stoppering, lyophilisation services, labelling, finished goods assembly, kitting and packaging, as well as controlled temperature storage and distribution services to support pre-clinical, Phase I and II clinical trial drug products.