Thermo Fisher Scientific to Acquire Brammer Bio, a Leader in Viral Vector Manufacturing
WALTHAM, Mass. and CAMBRIDGE, Mass., March 24, 2019 /PRNewswire/ — Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, and Brammer Bio, a leader in viral vector manufacturing for gene and cell therapies, have announced they have entered into a definitive agreement under which Thermo Fisher will acquire Brammer Bio for approximately $1.7 billion in cash.
Brammer Bio is a leading viral vector contract development and manufacturing organization (CDMO), enabling biopharma customers to deliver breakthrough medicines to patients by unleashing the potential of gene therapies and gene-modified cell therapies. The business has nearly 600 employees at primary locations in Massachusetts and Florida.
Brammer Bio is on track to deliver $250 million of revenue in 2019 and expects to continue to exceed the projected market growth rate of 25 percent over the mid-term. Thermo Fisher expects the business to be accretive to adjusted earnings per share by $0.10 in the first full year of ownership.
“Brammer Bio will be an exciting addition to our pharma services business and will further strengthen Thermo Fisher’s leadership 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.”
Speaking on behalf of Brammer Bio, co-founders Mark Bamforth, president and chief executive officer, and Dr. Richard Snyder, chief scientific officer, commented, “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.”
Michel Lagarde, president of Thermo Fisher’s pharma services business, added, “By leveraging our combined capabilities, along with our commercial scale and customer relationships, we will strengthen our position as a trusted partner to pharma and biotech. We look forward to welcoming the Brammer Bio team to our company and working together to make more life-saving treatments available to patients.”
The transaction, which is expected to be completed by the end of the second quarter of 2019, is subject to customary closing conditions, including regulatory approvals. Upon completion, Brammer Bio will become part of Thermo Fisher’s pharma services business within its Laboratory Products and Services Segment.