February 14, 2022 -- Asymchem Laboratories will acquire Snapdragon Chemistry for $57.94 million. The addition will significantly expand Asymchem's footprint in the U.S., offering customers a seamless path from preclinical process R&D to commercial current good manufacturing practices (cGMP) production.
The two companies began collaborating in the fall of 2020. Asymchem announced a strategic investment in Snapdragon to help expand its cGMP drug substance manufacturing suites, as well as to increase its pharmaceutical and biotech client base. This acquisition will further streamline the transition of clients' projects from early- to late-stage manufacturing and commercialization, according to the firms.
Snapdragon will operate as a standalone Asymchem division and continue with its ongoing lab and manufacturing facility expansion, with additional capacity to support larger, pilot-scale manufacture in Waltham, MA. The company's executive leadership team will remain intact while working with Asymchem leadership to sustain growth in 2022 and beyond.
The deal is expected to close in the second quarter of 2022, pending regulatory approval. Asymchem is a contract development and manufacturing organization providing innovative drug R&D and manufacturing. Snapdragon Chemistry designs practical manufacturing solutions for challenging chemical processes.