Following the transaction, terms of which were not disclosed, the contract development and manufacturing organization (CDMO) PCI Synthesis will become a wholly owned subsidiary of Novacap.
PCI’s existing management have signed long-term contracts and will remain in place.
“The acquisition of PCI Synthesis perfectly fits with our strategic roadmap as it will strengthen our offering to the pharmaceutical industry and provide Novacap with a strong and innovative platform to accelerate our development in the US,” said Pierre Luzeau, CEO of Novacap in a press release.
“The two companies operate complementary CDMO activities and share common values such as entrepreneurship, operational excellence and dedication to customer satisfaction,” he added.
Ed Price, founder and president of PCI Synthesis said in a blog post on the company’s website that the Boston-based CDMO will be the lead US company for Novacap.
With the acquisition, Price said it is creating a CDMO which can offer a range of services with access to Novacap’s PCAS facilities in France and its Uetikon facility in Germany.
PCI also will have access to Novacap’s “additional chemistry expertise, solid state chemistry development, dual site processing, and substantial additional capacity for the commercialization of the next generation of Life Science products,” he said.