An award-winning biologics and pharmaceuticals company has been snapped up by a US biotechnology firm.
Keele Science Park-based Cobra Biologics has been taken over by Memphis-based Cognate BioServices – a leading contract development and manufacturing organisation specialising in cell and cell-mediated gene therapy products.
Cobra Biologics – which was the recipient of a Queen’s Award for Enterprise in 2018 – employs around 100 people in Keele and a further 150 at its base in Sweden.
It specialises in the manufacturing of raw materials used in gene therapy – a medical process used to correct genetic disorders.
It exports almost all of its manufacturing services, helping to develop and manufacture drugs for the benefit of patients around the world.
Cobra chief executive Peter Coleman said: "Joining forces with Cognate is exciting, positioning the combined Cognate-Cobra as a leading service provider across the advanced therapy supply chain.
" The acquisition by Cognate will strengthen Cobra’s capability and capacity, broadening our service offering for both new and existing customers."
Cognate bosses say the deal will help to provide an integrated supply chain for their clients and expand their global capability to support their ‘ever-changing needs.’
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Kelly Ganjei, CEO of Cognate, said: "This acquisition is central to Cognate’s strategy to build on its existing offerings and create an enterprise platform for life cycle management of cell and gene therapy products, accelerating the availability of new technologies to patients that need them most.
"Cobra is a well-established leader in the development and manufacture of a variety of DNA and viral vectors that our current and prospective clients urgently need.
"With an impressive performance history and reputation in supporting cell and gene therapy product developers navigating through development and manufacturing challenges and capacity needs, the combined Cognate-Cobra expertise, infrastructure, and geographical footprint immediately positions both businesses to better respond to current and future market needs more quickly, effectively, and comprehensively."
Existing Cognate investor EW Healthcare Partners led the financing for the acquisition
Evis Hursever, managing director at EW Healthcare Partners, said: "EW Healthcare Partners is delighted to have the opportunity to back the Cognate team as they drive the growth and the transformation of the business into a leading provider in the cell and gene therapy space.
“We look forward to continuing to support the company and the exceptional management team as they capitalise on the growth opportunities ahead and achieve their ambitious growth plans."