The new site, which specializes in early-phase development and manufacturing services with a team of more than 80 employees, is set to strengthen Siegfried’s customer offering for drug substances in terms of capabilities and geographical coverage, the company said. 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.

Reto Suter, interim CEO and CFO of Siegfried, said: “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.”

The acquisition, the Swiss CDMO said, will strengthen its position in the US, enable the company to provide comprehensive support to customers in the pre-clinical and clinical development and manufacturing of drug substances, and further strengthen its drug substance pipeline.

The acquisition is financed from existing funds. The outlook for 2024 and the mid-term financial targets remain unchanged, Siegfried commented.