Thermo Fisher To Acquire Brammer Bio In $1.7 billion Cash Deal

Thermo Fisher To Acquire Brammer Bio In $1.7 billion Cash Deal

Thermo Fisher Scientific Inc, the world leader in serving science, and Brammer Bio, a pioneer in viral vector production for gene and cell therapies, today announced they have entered into a definitive agreement under which Thermo Fisher will obtain Brammer Bio for around $1.7 billion in money.

Brammer Bio is a leading viral vector contract development and production organization (CDMO), allowing biopharma clients to deliver breakthrough medicines to patients by unleashing the potential of chemical therapies and gene-modified mobile remedies. The business has almost 600 employees at chief locations in Massachusetts and Florida.

Brammer Bio is expected to clock in $250 million revenue in 2019 and is expecting a growth rate of over 25% within the mid-term. Thermo Fisher expects the company to become accretive to adjusted earnings per share by $0.10 from the first full year of ownership.

President and CEO of Thermo Fisher Scientific – Marc N. Casper expressed his excitement about the deal and said that it will be an add-on to their pharmacy services business – strengthening its grip in the Pharma & biotech industry buy serving all customers.

“Gene therapy is a place of increasing attention for

our customers and is fast-evolving given its capability to treat a range of genetic disorders. The combination of all Brammer Bio’s viral vector capabilities with our GMP manufacturing experience and proprietary bioprocessing and mobile culture technologies uniquely positions us to partner with our clients to drive the development of the incredibly fast-growing sector. The transaction is perfectly aligned with our Mission to empower our customers to make the world healthier, cleaner and safer.” he further added.

Brammer Bio has executed more than 100 projects to provide first-in-human gene therapy clinical trials and establish commercial-ready procedures, and we’re excited to join Thermo Fisher to take our business to another level. Our groups share a dedication to helping our customers succeed in providing cutting edge therapies to patients in need.”

Michel Lagarde, president of Thermo Fisher’s pharmacy providers firm, added, “By leveraging our joint capabilities, together with our commercial scale and customer relationships, we will fortify our position as a reliable partner to pharma and biotech. We look forward to welcoming the Brammer Bio team to our organization and working with each other to make more life-threatening treatments available to patients.”

This deal is subject to customary closing conditions, including regulatory approvals and is anticipated to be completed at the end of the second quarter of 2019. Under this deal – Brammer Bio will become a part of Thermo Fisher’spharma services business within its Laboratory Products and Services Segment.