JXTG Nippon Oil & Energy Corporation has announced it has agreed to sell Irvine Scientific Sales Company, Inc. and IS Japan Co., Ltd. to FUJIFILM Corporation (FujiFilm).

JXTG Energy acquired Irvine Scientific in 1987 and launched IS Japan in 1989; both companies have continuously expanded to become significant suppliers of cell culture media and products to the biopharmaceutical, cell therapy and medical markets in their respective regions.  Although the business has experienced significant growth, life sciences and medical devices are not synergistic for JXTG Energy’s core business going forward.  

The acquisition by FujiFilm aligns with their expectations for increased demand and needs of biopharmaceutical products and regenerative medicine therapy is driving current rapid growth of the cell culture media market and estimates continued strong growth in the coming years.

Prior to this announcement, FujiFilm acquired the global leader in iPS cell technologies, Cellular Dynamics International, Inc (“CDI”) and has entered into cell culture media space with the acquisition of general reagents manufacturer, Wako Pure Chemical Industries, Ltd. (“Wako Pure Chemical”).  With the acquisition of Irvine Scientific, FujiFilm will have a full product line supporting customers supplying antibody drugs to assisted reproductive technologies and cell therapy, and will also enable FujiFilm to strengthen its overseas business.