French fine chemicals producer and pharmaceutical industry supplier Novacap has agreed to acquire Boston-based PCI Synthesis, a leading US pharmaceutical contract development and manufacturing organization (CDMO). The French company said the deal, still subject to regulatory approval, will further reinforce its own capabilities in the pharmaceuticals sector.

Services offered by the Boston company range from process research and early stage development to commercial production of new chemical entities (NCEs), generic APIs and other specialty chemical products. With annual sales of $32 million, PCI operates a R&D facility in Devens, Massachusetts, and a manufacturing facility in Newburyport. Massachusetts.

In recent years, the US player has also branched out into new fields, including GMP manufacturing for nutraceuticals and pharma foods, large-scale cryogenic manufacturing, large-scale chromatography, controlled substance development and medical-grade polymers.

Novacap said the takeover will equip PCI with additional resources to continue its development while at the same time reinforcing its own global leadership in pharmaceutical synthesis. The French firm currently operates 12 cGMP sites and two main R&D centers offering a comprehensive range of services and technologies dedicated to clinical development and commercial manufacturing.

Pierre Luzeau, CEO of Novacap, said the acquisition fits perfectly with the company’s strategic roadmap, which is focused on enhancing its presence in the US market. The two players, he said, operate complementary CDMO activities and share common values. In particular, he said, management is impressed with PCI’s “promising pipeline.”

Ed Price, founder and president of PCI Synthesis, said the US firm will be able to profit from Novacap’s “deep technical expertise.”