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Hepalink USA Inc. agrees to acquire Cytovance Biologics, Inc.

Under terms of agreement, announced yesterday by Cytovance, Hepalink USA Inc has agreed to acquire Cytovance® Biologics Inc. for US$205.68 million in cash plus certain contingent payments.
Cytovance® Biologics is a contract development manufacturing company specializing in the cGMP production of therapeutic proteins and antibodies from mammalian cell culture, microbial fermentation, transgenic processes, and small scale "flex suite" programs. In addition, Cytovance offers process development services, cell line development, purification development, stability testing, and regulatory support services.
Hepalink, together with its U.S. subsidiary SPL (Scientific Protein Laboratories), is one of the largest suppliers of heparin sodium API (active pharmaceutical ingredients) worldwide.
Through this operation, Hepalink's investment will accelerate Cytovance's expansion plans which include the addition of 5,000L and 10,000L mammalian reactors and 1,000L and 5,000L microbial fermentors as well as increased analytical capabilities, process development and process characterization capabilities.
"We will become part of a very successful company that shares our commitment to safety and quality", said Mr. Darren Head, President & Chief Executive Officer of Cytovance.
"This acquisition represents an exciting opportunity for Hepalink, Cytovance and its employees, and Cytovance's customers," said Mr. Li Li, Chairman and Chief Executive Officer of Hepalink. "Hepalink will accelerate the realization of its strategy in the global macromolecule biopharmaceutical space. Cytovance will have the resources to expand its manufacturing capabilities, enhancing its ability in late stage clinical drug production and commercial business".
The transaction is expected to close in October and Cytovance management will remain in place (Oklahoma City), as will its 178 employees in the United States.