03.25.19
Thermo Fisher Scientific Inc. has entered into a definitive agreement to acquire Brammer Bio, a viral vector manufacturer for gene and cell therapies, for approximately $1.7 billion in cash.
Brammer Bio works with biopharma customers to help deliver breakthrough medicines leveraging the potential of gene therapies and gene-modified cell therapies. The company has nearly 600 employees at primary locations in Massachusetts and Florida. Brammer Bio anticipates $250 million of revenue in 2019.
"Brammer Bio will be an exciting addition to our pharma services business and will further strengthen Thermo Fisher'sleadership in serving pharma and biotech customers," said Marc N. Casper, president and chief executive officer of Thermo Fisher Scientific. "Gene therapy is an area of increasing focus for our customers and is fast-evolving given its potential to treat a range of genetic disorders. The combination of Brammer Bio's viral vector capabilities with our GMP production expertise and proprietary bioprocessing and cell culture technologies uniquely positions us to partner with our customers to drive the evolution of this incredibly fast-growing market. The transaction is perfectly aligned with our Mission to enable our customers to make the world healthier, cleaner and safer."
Brammer Bio, co-founders Mark Bamforth, president and chief executive officer, and Dr. Richard Snyder, chief scientific officer, said, "We are proud to be pioneers in process development and manufacturing of viral vectors. Brammer Bio has executed more than 100 projects to supply first-in-human gene therapy clinical trials and establish commercial-ready processes, and we're excited to join Thermo Fisher to take our business to the next level. Our teams share a commitment to helping our customers succeed in delivering cutting-edge therapies to patients in need."
The transaction, expected to close 2Q19, is subject to customary closing conditions. Brammer Bio will become part of Thermo Fisher's pharma services business within its Laboratory Products and Services Segment.
Brammer Bio works with biopharma customers to help deliver breakthrough medicines leveraging the potential of gene therapies and gene-modified cell therapies. The company has nearly 600 employees at primary locations in Massachusetts and Florida. Brammer Bio anticipates $250 million of revenue in 2019.
"Brammer Bio will be an exciting addition to our pharma services business and will further strengthen Thermo Fisher'sleadership in serving pharma and biotech customers," said Marc N. Casper, president and chief executive officer of Thermo Fisher Scientific. "Gene therapy is an area of increasing focus for our customers and is fast-evolving given its potential to treat a range of genetic disorders. The combination of Brammer Bio's viral vector capabilities with our GMP production expertise and proprietary bioprocessing and cell culture technologies uniquely positions us to partner with our customers to drive the evolution of this incredibly fast-growing market. The transaction is perfectly aligned with our Mission to enable our customers to make the world healthier, cleaner and safer."
Brammer Bio, co-founders Mark Bamforth, president and chief executive officer, and Dr. Richard Snyder, chief scientific officer, said, "We are proud to be pioneers in process development and manufacturing of viral vectors. Brammer Bio has executed more than 100 projects to supply first-in-human gene therapy clinical trials and establish commercial-ready processes, and we're excited to join Thermo Fisher to take our business to the next level. Our teams share a commitment to helping our customers succeed in delivering cutting-edge therapies to patients in need."
The transaction, expected to close 2Q19, is subject to customary closing conditions. Brammer Bio will become part of Thermo Fisher's pharma services business within its Laboratory Products and Services Segment.
