Switzerland-based Siegfried has announced the signing of binding agreements with Curia Global to acquire an early-phase contract development and manufacturing organisation (CDMO) site in Grafton, Wisconsin, US to strengthen its drug substances service offering.
The strategic move will enhance Siegfried’s capabilities and geographical coverage in the sector.
The Grafton site, which has 80 experienced employees, specialises in early-phase development and manufacturing services.
Siegfried plans to transform the site into a top-tier hub for early-phase CDMO services for its international clientele, including the management of highly potent active pharmaceutical ingredients (APIs).
The company’s expansion into the US pharmaceutical market will enable it to provide extensive support to customers throughout the pre-clinical and clinical development stages of drug substances.
The acquisition could particularly be beneficial for small and medium-sized pharmaceutical companies, expanding Siegfried’s range of offerings.
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By GlobalData
By focusing on early-phase CDMO services, Siegfried will bolster its drug substance pipeline, capturing promising opportunities at their inception.
The deal will conclude in July 2024.
The financial aspect of the acquisition will be managed using existing funds, and Siegfried has confirmed that the outlook for 2024 and mid-term financial targets will remain unaffected by this transaction.
Siegfried interim CEO and chief financial officer Reto Suter stated: “With this acquisition, we enhance our offering with early-stage development services for drug substances and become even more relevant and attractive to our customers.
“Siegfried now offers an integrated range of services from early-stage development to commercial production of APIs through to the manufacturing of fully formulated drug products. This transaction will generate attractive opportunities and will further accelerate our growth story.”
