Nitto Denko Avecia Inc has announced that it has entered into a definitive agreement to acquire the assets of Irvine Pharmaceutical Services (Irvine) and Avrio Biopharmaceuticals (Avrio), both located in Irvine, CA. Avecia will consolidate both businesses into the newly established company, Nitto Avecia Pharma Services. The acquisitions of Irvine and Avrio, which are expected to be completed in October, will significantly boost Avecia’s analytical capabilities and complement its oligonucleotide drug substance services.
“We are excited to work with Irvine and Avrio’s founder, Dr. Assad Kazeminy, a recognized leader in the industry for more than 30 years,” said Detlef Rethage, president of Nitto Denko Avecia. “Together, we will work to realize the synergies between the three businesses by offering seamless outsourcing solutions for the benefit of our customers, including oligonucleotide drug substance, drug product, analytical development and related services.”
“With our strong customer base developed and maintained for nearly 30 years in the cGMP contract development and manufacturing arena, we believe that Irvine and Avrio are a perfect fit with Nitto Avecia Pharma Service’s innovative business model,” said Dr. Assad Kazeminy, CEO and Founder of Irvine Pharmaceutical Services, Inc. and Avrio Biopharmaceuticals, LLC.
“This combination provides an exciting expansion of breadth of capabilities and depth of expertise to support the growing needs of the pharmaceutical, biopharmaceutical and medical device industries.”