Avista Pharma Solutions acquires contract services business from Scynexis
Avista Pharma Solutions has acquired the GMP contract manufacturing, development and animal health services business of Scynexis. Avista will occupy Scynexis’ former research and GMP manufacturing facility in Durham, N.C., and hire substantially all employees associated with the contract services business.
“This is our second acquisition this year as we pursue an aggressive growth strategy to build a dominant company in the contract services sector,” said Patrick Walsh, Avista Pharma Solutions CEO.
Avista Pharma acquired the Longmont, Colo.-based chemistry, manufacturing and controls (CMC) business of Array BioPharma in June 2015, and is a subsidiary of Accuratus Lab Services. Accuratus is a portfolio company of Ampersand Capital Partners, a healthcare-focused private equity firm based in Wellesley, Mass.
“The acquisition of the Scynexis contract services business is another important step in our effort to build a differentiated player in the CDMO industry,” said David Parker, general partner at Ampersand. “We are excited about the opportunity to expand the solid franchise that the Scynexis team has built with major animal health clients. And we see clear synergy opportunities between Avista’s Longmont and Durham operations to help solve the difficult synthesis and manufacturing scale-up challenges faced by new drug sponsors.”