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Nitto Denko Corporation announces today that Nitto Denko Avecia, Inc. (“Avecia”) has signed a purchase agreement with Girindus America, Inc. (“Girindus”) to acquire its business. The closing date is scheduled for the first half of January 2013and is subject to Shareholders approval of Girindus AG.
Avecia is a recognized leader in oligonucleotide manufacturing and related development services for therapeutic applications, from pre-clinical through commercial launch. In addition to cGMP (current Good Manufacturing Practices) manufacturing, Avecia’s services include the development of analytical methods, process validation, stability studies, quality control, and regulatory support. With this acquisition, Nitto Denko aims to strengthen Avecia’s business base further in the industry with great growth potential.
The acquisition of Girindus America Inc.’s assets will allow Avecia to benefit from the following synergies.
1. Better global customer coverage, providing the opportunity for stronger client relationships
2. Larger combined product pipeline and increased manufacturing capability
3. Improved security of supply with the addition of a second manufacturing facility
4. Expanded services including radiolabeling and small-molecule (organic) synthesis capabilities
With this acquisition, Nitto Denko will further boost Avecia’s business base in the therapeutic oligonucleotides segment and solidify its position in the oligonucleotide CMO business to better serve the customers.
Girindus America, Inc., located in Cincinnati, Ohio, is a recognized company in the therapeutic oligonucleotide manufacturing business serving major pharmaceutical and biotech companies with small- and large-scale manufacturing capabilities.
NITTO DENKO Avecia Inc. is a drug development and manufacturing service company located in Milford, MA, and is a part of Nitto Denko Corporation, Japan’s leading diversified materials manufacturer. Avecia is a recognized leader in process development, manufacturing and related services for DNA and RNA-based therapeutics. All services are offered, from pre-clinical testing to post-commercial launch of innovative oligonucleotide-based therapeutics.
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