Further Expansion of Therapeutic Oligonucleotide Business
Nitto Denko Avecia Inc. Acquires Assets of Irvine Pharmaceutical Services & Avrio Biopharmaceuticals
Nitto Denko Corporation (Headquarters: Osaka / President, CEO, COO: Takasaki Hideo / “Nitto” hereafter) announced that Nitto Denko Avecia Inc. (wholly owned subsidiary of Nitto / Main location: Milford, MA / President: Detlef Rethage / “Avecia” hereafter) has acquired the assets of Irvine Pharmaceutical Services (Main location: Irvine, CA / “IPS” hereafter) and Avrio Biopharmaceuticals (Main location: Irvine, CA / “Avrio” hereafter) in order to further expand its oligonucleotide drug business. IPS has achieved prominence for its analytical development services while Avrio offers aseptic fill & finish services and pharmaceutical formulation design services. Avecia will combine the assets and form a newly established company, Nitto Avecia PharmaServices.
Since acquiring Avecia in 2011, Nitto has held top shares in the industry as a manufacturer of oligonucleotide drugs. Oligonucleotide drugs are synthetic strands of DNA or RNA that alter the expression of a specific set of genes directly and they serve as a novel form of therapy for diseases that were previously thought difficult to treat. Because of its potential to be the next breakthrough in medicine since antibody therapy, development of oligonucleotide drugs is progressing rapidly towards commercialization. In the midst of this rapid growth, Nitto is staying one step ahead of its competitors by acquiring the assets of IPS and Avrio. This acquisition allows Avecia to expand its portfolio with the following functions and fulfill the needs of the customers at every stage in developing and producing oligonucleotide drugs.
Deliver aseptically filled-and-finished products in final dosage forms in addition to supplying oligonucleotide drug substances
Offer pharmaceutical formulation design services
Under the brand slogan “Innovation for Customers”, Nitto plans to continue expanding its business reach in the Green (Environment) / Clean (New Energy) / Fine (Life Sciences) sectors in order to contribute to our customer’s value creation. Nitto will use this acquisition as an opportunity to expand its Fine (Life Sciences) sector and assist customers in accelerating the development of oligonucleotide drugs.
<About Irvine Pharmaceutical Services>
Name: Irvine Pharmaceutical Services
Location: Irvine, CA (USA)
Number of Employees: Approximately 130
Services: Provides sample analysis, stability testing, analytical development, and biopharmaceutical development services for pharmaceutical and biotech companies
<About Avrio Biopharmaceuticals>
Name: Avrio Biopharmaceuticals
Location: Irvine, CA (USA)
Number of Employees: Approximately 40
Services: Provides aseptic fill & finish services and pharmaceutical formulation design services for pharmaceutical products
<About Nitto Denko Avecia Inc.>
Name: Nitto Denko Avecia Inc.
Location: Milford, MA (USA)
Number of Employees: Approximately 290
Services: With more than 20 years of experience, Avecia boasts top shares in the industry and is widely recognized as the Number 1 leader in manufacturing and support services for oligonucleotide drugs. Avecia offers a wide-range of services from pre-clinical through commercialization and has the capabilities to manufacture high quality products under cGMP*1).
*1) cGMP (Current Good Manufacturing Practice): Regulations enforced by the US Food and Drug Administration (FDA) for manufacturing, testing, and quality assurance of pharmaceutical products