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Financing › Details

Chemic Laboratories–Solvias: investment, 202106 acquisition €na by Solvias

 

Period Period 2021-06-17
Organisation Money taker Chemic Laboratories Inc.
Products Product analytical services
  Product 2 laboratory services
     

Solvias AG. (6/17/21). "Press Release: Solvias Acquires Chemic Laboratories to Establish U.S. Laboratory Presence and Expand Testing Services".

Solvias, one of the largest independent analytical testing, contract research, development and manufacturing companies, today announced that it has acquired Canton, Mass.-based Chemic Laboratories, Inc. (Chemic). With this acquisition, Solvias gains a strong foothold in the United States and highly complementary laboratory testing capabilities.

Located in the biopharmaceutical hub of Boston, Chemic expands Solvias' global presence and portfolio of integrated testing and analytical services. As one organization, Solvias and Chemic:

> support 650+ pharmaceutical corporations, biotech businesses, emerging ATMP companies, as well as medical device and cosmetics companies;

> operate nearly 225,000 square feet of laboratory space in Switzerland, France and the United States in accordance with the highest industry standards, including ISO, cGMP and GLP;

> offer an extensive suite of analytical services including chemical and physical characterization, quality control, microbiology and cell biology testing and stability testing;

> provide combined areas of strengths in synthesis, catalysis and in extractable and leachable testing;

> employ more than 600 people possessing deep scientific and technical expertise, with a significant number holding advanced academic degrees.

Joseph St. Laurent, co-founder, president and chief scientific officer, Chemic, said, "In the 20+ years we have grown Chemic, Solvias is the only organization we have encountered that shares our vision and has the team to build a world-renowned organization. Solvias is highly regarded for its scientific expertise, innovation and outstanding customer service. Together, we share a deep-seated commitment to our clients and complementary scientific knowledge and analytical services on a global scale."

Scott A. Goodrich, co-founder and site head, Chemic, added, "This is a great opportunity to further expand our offering in the Boston area, United States and beyond."

Chemic is Solvias' first acquisition since partnering with health care investors Water Street Healthcare Partners and JLL Partners in June 2020 to strategically grow the company. Since then, Solvias has recruited industry leaders to join its board and commenced a program to significantly upgrade and expand its information technology platform and infrastructure in support of further global expansion plans. The company is pursuing organic investments and acquisitions to add specialized capabilities to support clients in the growing areas of biologics and cell & gene therapies.

Karen Huebscher, Ph.D., chief executive officer, Solvias, stated, "We are making great progress toward our goal of building Solvias into a global leader at the forefront of our industry. In a short amount of time, we have grown our teams, advanced organic initiatives and completed a strategic acquisition. Our combination with Chemic provides us with an important presence in the United States and extends our scientific capabilities to meaningfully benefit our customers and our mission of helping them bring safer and better products to market faster."

Chemic's co-founders, Messrs. St. Laurent and Goodrich, will join Solvias' leadership team and continue to lead operations in the United States. They also will continue to operate Chemic's product development businesses as separate entities.

Financial terms of the acquisition are not being disclosed.


About Chemic Laboratories

Chemic Laboratories is a full-service FDA-registered and DEA licensed, cGMP/GLP contract chemistry organization (CCO). Founded in 1998, Chemic offers unparalleled contract analytical, API synthesis, and formulation development to the pharmaceutical, biotech and medical device industries. The company provides these services through a strategically designed and highly technical facility equipped with state-of-the-art instrumentation.


About Solvias AG

Solvias is a world leader in contract research, development and manufacturing. The industries the company serves include pharmaceuticals, biotech, emerging ATMP companies, medical device and cosmetics. Headquartered near Basel, Switzerland, Solvias employs more than 600 highly qualified team members who work together to understand their customers' needs. Solvias takes pride in delivering innovative solutions that meet the highest quality standards. With its excellent infrastructure and unrivaled expertise, Solvias develops, analyzes and tests a wide range of biological and chemical substances and products. The company also offers one of the largest proprietary ligand portfolios for catalytic transformations and a suite of related custom synthesis and catalysis technology services. Drawing on the company's well-established scientific expertise and proven track record, Solvias provides integrated services, products and technologies to help its customers bring safer and better products to market faster.


Media Contact:

Kelly Zitlow
Water Street
kelly.zitlow@waterstreet.com

   
Record changed: 2021-06-26

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