Crown Bioscience has announced that they will merge with and become a fully owned subsidiary of the JSR Corporation, headquartered in Tokyo, Japan. The merger, which cost JSR $400 million, produces a fully integrated suite of innovative solutions to support researchers through every stage of drug and diagnostic development – from early research through manufacturing.
The strategic merger integrates Crown Bioscience’s translational technology platform with JSR’s in vitro diagnostic (IVD) solutions, GMP manufacturing capabilities and worldwide distribution networks.
“We are excited to join the JSR family of companies through this innovation-driven strategic partnership,” said Dr. Jean-Pierre Wery, Crown Bioscience’s chief executive officer. “Crown Bioscience’s core competencies in preclinical and translational research combined with JSR’s global footprint, diagnostic solutions and manufacturing capabilities will provide a fully integrated solution to help biopharmaceutical companies get drugs and diagnostics to market more efficiently.”
The completion of the merger is expected to close before the end of the second quarter of 2018.