The transaction, which marks PCI’s fourth acquisition in the past three years, enables the company to obtain five FDA-approved manufacturing facilities in the US and Spain as well as three additional facilities under development
PCI agrees to purchase LSNE. (Credit: LSNE.)
PCI Pharma Services (PCI) has agreed to acquire Lyophilization Services of New England (LSNE), a contract development and manufacturing organisation (CDMO) owned by private equity firm Permira.
The transaction marks PCI’s fourth acquisition in the past three years.
Established in 1997, in New Hampshire, US, LSNE has been serving pharmaceutical, biotechnology and medical device companies worldwide.
The company has cGMP aseptic fill-finish capabilities, and expertise in lyophilisation, a key manufacturing process for injectable and biologic therapies.
With the acquisition, LSNE is expected to expand PCI’s service offerings as a CDMO, leveraging its expertise in biologics packaging and specialty manufacturing.
LSNE founder and CEO Matt Halvorsen said: “We are delighted that LSNE is joining the PCI team and anticipate a seamless integration for our employees and clients.
“Joining forces with a global industry leader, such as PCI, is a great step forward for LSNE and will produce a winning combination for our clients, employees and the patients we jointly serve.”
Through the acquisition, PCI obtains five FDA-approved manufacturing facilities in the US and Spain, with a sixth facility expecting approval in few months.
Also, three additional facilities, which are currently under development, will strengthen PCI’s global network comprising 30 sites.
With the addition of LSNE, PCI is enabled to provide integrated large and small molecule solutions for its clinical and commercial clients.
The company will benefit from LSNE’s lyophilisation for wide range of injectables including nanoparticles, mRNA, mABs, proteins, oligonucleotides, and other biologics.
For the transaction, Jefferies served as exclusive financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison as counsel to PCI.
PCI Pharma Services chief executive officer Salim Haffar said: “We are excited to welcome LSNE into the PCI family. Their passion for patients, talented team, robust compliance culture, operating excellence and innovative approach to client challenges are perfectly aligned with our global strategy.
“This acquisition will expand our manufacturing offerings worldwide, providing clients with a single source for their drug development and packaging needs, reducing supply chain complexity and accelerating speed to market for their much-needed treatments.”
Recently, LSNE has installed a new lyophilizer at its Madison, Wisconsin parenteral manufacturing facility, to double its sterile drug product lyophilisation capacity.