Cambrex Corporation, a manufacturer of small molecule innovator and generic active pharmaceutical ingredients (APIs), has acquired PharmaCore, a privately-owned company specializing in developing, manufacturing and scaling up small molecule APIs for clinical phase projects, for approximately $25 million. PharmaCore was founded in 1999 and occupies a 35,000 sq. ft. GMP site in High Point, NC.

PharmaCore develops and produces complex APIs and intermediates requiring multi-step synthetic processes in batch sizes from milligrams to 100 kg to support clinical trials from Phase I to Phase III. The company is licensed with the US Drug Enforcement Administration (DEA) to manufacture Schedule II to Schedule V controlled substances. PharmaCore has more than 60 full time employees, focused on projects at laboratory and pilot plant scale, with nearly 40 lab-based process and analytical chemists.

The acquisition will enhance Cambrex’s portfolio of small molecule API services and complements its existing large scale, multi-purpose manufacturing facilities in the U.S. and Europe. PharmaCore is currently generating $15 to $17 million per year in revenues.

“We are excited to announce our acquisition of PharmaCore, which we believe underlines our commitment to continually enhancing our service offering to our global pharmaceutical and biotech customers,” said Steven Klosk, chief executive officer, Cambrex. The acquisition will provide the capability and expertise to efficiently develop early clinical phase products and new technologies. We expect PharmaCore’s substantial customer base and robust project pipeline to broaden our potential late stage clinical development and commercial manufacturing opportunities.”

Through the end of 2016, Cambrex will have invested over $200 million in capital projects within its existing facilities, including a recently completed $50 million production and warehousing expansion of its large scale API facility in Charles City, IA, and a $9 million investment to expand large scale manufacturing capacity at its Karlskoga facility in Sweden.

Rob Maddox, president, PharmaCore, said, “PharmaCore is proud of the reputation we have developed, both as a trusted CMO and a company with a strong track record of innovative chemistry. We are thrilled to be joining Cambrex’s global network and to have the opportunity to participate in Cambrex’s growth strategy.”

PharmaCore’s North Carolina facility has a 15,000 sq. ft. chemistry laboratory and a 13,000 sq. ft. pilot plant, with reactor capacity ranging from 20L to 2000L, with supporting GMP analytical services.