Radiopharmaceutical CDMO PharmaLogic Holdings has announced plans to acquire a majority stake in Agilera Pharma from the Norwegian Institute for Energy Technology (IFE).
This will allow the company to create the first fully integrated, global CDMO specialising in radiopharmaceuticals.
Agilera has been providing its services to the pharmaceutical industry for more than a decade, which include the manufacture of radiopharmaceuticals in the US, Europe and Asia.
To date, the company has delivered 600,000 therapeutic doses to more than 40 countries, making it one of the largest radiopharmaceutical CDMOs in the market.
Through this agreement PharmaLogic will gain access to Agilera's manufacturing capacity, which will bolster the company's existing manufacturing platform.
PharmaLogic will also help Agilera to grow its CDMO capabilities by investing in infrastructure and scaling its global footprint.
The acquisition will also make PharmaLogic the only CDMO with a global presence to actively produce and distribute one of the main commercially-approved radiopharmaceutical therapies for major pharmaceutical companies.
"PharmaLogic's acquisition of Agilera, one of only two CDMOs worldwide currently manufacturing radiopharmaceutical therapeutics, accelerates the expansion of our capabilities in this high-growth field," said Etienne Montagut, President of PharmaLogic.
"By combining our expertise with Agilera's industry-leading scale and quality systems, we will be uniquely positioned to offer an end-to-end solution for manufacturing therapeutics at scale and ultimately improve global patient access to these essential treatments. We're thrilled to welcome Agilera's very talented team to PharmaLogic and to take the lead in expanding our presence in Europe."
"For IFE, the sale of a majority stake in Agilera marks a significant achievement as the largest commercialisation effort carried out from the Institute to date," added Nils Morten Huseby, the organisation's CEO.
"As a leading Research Institute, IFE is committed to innovation and job creation and has played a key role in the development and manufacturing of radiopharmaceutical therapeutics through Agilera. The entry of PharmaLogic as a new majority shareholder in Agilera will enable rapid scale-up, growth and development of Agilera's operations to meet the increased demand for radiopharmaceutical therapeutics globally."
"With PharmaLogic as a new owner beside IFE, this will enable further investments in the business to ensure that we have the right, available capacity to take on new customer projects and thus achieve faster adaptation to the promising market opportunities," said Erik Flatmark, CEO of Agilera.
"An important step will be to strengthen European and transatlantic distribution of the products from both companies. We feel confident that we together will provide great opportunities for European, U.S., and global customers, with increased manufacturing capacity and capability in the market."