Hepalink to acquire Cytovance
Wednesday, August 26, 2015
Hepalink USA, a China-based global supplier of heparin sodium API, has entered into a definitive agreement to acquire Cytovance Biologics, a biopharmaceutical contract development manufacturing (CDMO) company, for $205.68 million in cash plus certain contingent payments.
The addition of Cytovance Biologics to Hepalink USA and its parent company Shenzhen Hepalink Pharmaceutical adds a biologics CDMO to its current U.S. portfolio, which also includes Wisconsin-based Scientific Protein Laboratories.
The transaction is expected to close in October following regulatory approval, at which point Cytovance Biologics will become a fully consolidated subsidiary of Hepalink USA. Cytovance management will remain in place, as will its 178 employees in the U.S.