In the Press
|
|
In the Press |
|
|
Date: 4th December 2007 Title: CMC Acquires Former ICOS Biologics Operation in Bothell, Washington State, USA - CMC Biopharmaceuticals to purchase facility from Lilly; will retain existing employees CMC Biopharmaceuticals A/S (CMC) today announced that it has reached an agreement to buy the biologics development and manufacturing operation that Eli Lilly and Company (NYSE: LLY) acquired when it purchased ICOS Corporation in January 2007. CMC, a Copenhagen, Denmark based leading provider of contract biomanufacturing services, will purchase the biologics facility in Bothell, Washington State, USA. The new operation, CMC ICOS Biologics Inc., which will expand the Danish company's operations into the United States, will continue to develop and manufacture therapeutic proteins for early clinical trials for its customers. CMC is planning significant investment in the facility to enable production of late stage clinical trial and commercial biopharmaceuticals. As a part of the agreement, CMC will retain the existing 127 employees working at the biologics facility in Bothell, which continued to operate after being purchased by Lilly. Other terms of the agreement were not disclosed. "We're extremely excited about our acquisition of ICOS Biologics. We feel strongly that the skills inherent in the employees that work here are of great value to the biologics industry and will complement the abilities of our expert workforce in Europe," said David Kauffmann, Chairman, CMC. "Our plans to upgrade the facility in order to manufacture commercial product will mean that we can provide additional services to both existing and new clients. Moreover, by establishing a presence in the USA, we've placed CMC in an enhanced position to actively seek opportunities to grow our business," said Mads Laustsen, CEO, CMC. "Finding the right company to acquire the ICOS biologics operation has been a priority for Lilly," said Gino Santini, Lilly's senior vice president of corporate strategy and business development. "We are pleased that CMC has committed to retaining the existing staff and serving its current customers. As well, CMC keeps an important biotech presence in Seattle in the Puget Sound region of Washington State, which could ultimately generate broader economic growth and opportunity for the region." "Snohomish County was pleased to have been a business partner with Lilly and applaud its success in protecting local jobs. We are very excited about the opportunities that CMC brings and pledge to help make their transition as smooth as possible." - Snohomsh County Executive Aaron Reardon "ICOS has always been a great success story for life sciences in Washington, and we are grateful for all the creative and generous work done by Eli Lilly to maximize this positive legacy," said Washington Biotechnology & Biomedical Association President Jack Faris. "WBBA is delighted to welcome CMC; we look forward to their participation in the future of life sciences in Washington." About CMC Biopharmaceuticals
A/S About Lilly
|
