Pfizer to Acquire Abzena’s North Carolina Biologics Manufacturing Facility
Pharma giant Pfizer Inc. and the Global Partner Research Organization (PRO) for integrated bench-to-market solutions for biologics and bioconjugates, Abzena, announced that the companies have entered into an agreement under which Pfizer will acquire Abzena’s state-of-the-art cGMP biologics manufacturing facility in Sanford, North Carolina.
Upon completion of the construction, the brand new ultra-modern facility will have extensive capabilities for producing biologics drug substances and provides additional manufacturing capacity allowing Pfizer to help accelerate its innovative pipeline. The 120,000ft² facility started being developed by Abzena with an investment of around $213m.
In addition, Abzena and Pfizer’s CentreOne contract manufacturing organization will seek to collaborate to advance complex biologic products to market.
The new Sanford, North Carolina site is expected to employ approximately 300 employees by 2025, including the current staff of approximately 100 employees, which is anticipated to bring Pfizer’s total workforce in North Carolina to more than 4,500 employees. The site will employ experts in both biological pharmaceutical sciences and biological manufacturing, enabling Pfizer to offer a comprehensive co-development capability. Since 2017, Pfizer has invested more than $5 billion to support the ongoing growth of its manufacturing footprint in the U.S., with $1.4 billion invested in North Carolina.
Mike McDermott, Chief Global Supply Officer, Executive Vice President, Pfizer, announced:
“Biologics continue to be an integral part of Pfizer’s pipeline and this acquisition will expand our research, clinical and commercial manufacturing capacity and help us accelerate the development of our pipeline products as well as support our Pfizer CentreOne customers. Furthermore, this site is located near our existing Rocky Mount and Sanford manufacturing sites, enabling access to turn-key services spanning large molecule drug substance through fill finish. We’re excited to welcome the site into our manufacturing network as we continue to enhance our expertise and offerings.”
Matt Stober, Abzena’s CEO, said:
“We’re thrilled to announce this agreement with Pfizer. I am very proud of the facility and our colleagues who worked tirelessly in its construction, and we look forward to building our future collaboration with Pfizer.”
The transaction is expected to close in the first quarter of 2023 subject to customary closing conditions. Financial terms of the transaction were not disclosed. Clifford Chance LLP is acting as Pfizer’s legal advisor. Abzena’s exclusive financial advisor for the transaction is Truist Securities, with Sidley Austin LLP serving as its legal advisor.
Original Source: Pfizer – Press Release January 17, 2023 – https://www.pfizer.com/news/announcements/pfizer-acquire-sanford-north-carolina-manufacturing-site-abzena
Recommended Companies
More Headlines
