Siegfried to Acquire Early-Phase CDMO in US
Siegfried, a global Contract Development and Manufacturing Organization (CDMO) for the pharmaceutical industry headquartered in Zofingen, Switzerland, has signed binding agreements with Curia Global for the acquisition of an early-phase CDMO site in Grafton, Wisconsin, US.
The new site, which specializes in early-phase development and manufacturing services, is set to strengthen Siegfried's customer offering for Drug Substances by its capabilities and geographical coverage. Siegfried intends to develop the site into a best-in-class hub for early-phase CDMO services for its global customer base, including services for projects with highly potent APIs. Subject to customary closing conditions, the transaction is expected to close by July 1, 2024.
Reto Suter, CEO ad interim and CFO of Siegfried, commented, "With this acquisition, we enhance our offering with early-stage development services for Drug Substances and become even more relevant and attractive to our customers. Siegfried now offers an integrated range of services from early-stage development to commercial production of APIs through to the manufacturing of fully formulated Drug Products. This transaction will generate attractive opportunities and will further accelerate our growth story."
The purchase enhances Siegfried’s presence in the U.S., the largest pharmaceutical market. It allows Siegfried to support clients in pre-clinical and clinical development and Drug Substances manufacturing. This broadens Siegfried’s services, benefiting pharmaceutical firms, especially smaller ones. Focusing on early-phase CDMO services boosts Siegfried’s Drug Substance pipeline, capturing early-stage opportunities and promising future growth.
The acquisition is financed from existing funds. The outlook for 2024 and the mid-term financial targets remain unchanged.
