AGC to Complete the Acquisition of MolMed on July 31, 2020
AGC Biologics adds leading-edge cell & gene therapy company in Milan, Italy
SEATTLE, July 28, 2020 /PRNewswire/ -- AGC Biologics, a Global Biopharmaceutical Contract Development and Manufacturing Organization (CDMO), has announced that they will acquire the majority of the share capital of Molecular Medicine S.p.A. ("MolMed") on July 31, 2020. MolMed is a biotechnology company focused on research, development, production and clinical validation of cell and gene therapies for the treatment of cancer and rare diseases. AGC Biologics is now one of the very few CDMO's in the world offering both plasmid production and end-to-end cell and gene therapy services.
Cell and gene therapy is an innovative and rapidly growing therapeutic field that aims to treat diseases that do not have adequate treatments to date. Approximately 1,000 clinical trials are underway worldwide, with some products receiving market authorization in the last few years and approximately 50 new therapies expected to be authorized by 2030. Thanks to its two commercially authorized facilities, MolMed offers GMP services for the development and production of cell and gene therapies. MolMed brings deep experience and expertise in providing development and GMP manufacturing services for viral vectors and genetically modified cells, from the preclinical phase through commercial demand.
"While we work hard to take care of each other and our customers during this very challenging and uncertain time, it's also important that we ensure the continued growth of our company," says AGC Biologics CEO Patricio Massera. "AGC Biologics is committed to continuously expanding our offerings and growing our capacity to serve all the needs of current and future customers. We are very pleased to be adding MolMed and its great cell and gene therapy capabilities and track record to AGC Biologics' global CDMO service offerings."
About AGC Biologics:
AGC Biologics is a leading global Contract Development and Manufacturing Organization (CDMO) with a strong commitment to deliver the highest standard of service to clients and partners. The company currently employs more than 1,000 employees worldwide. AGC Biologics' global network spans three continents, with cGMP-compliant facilities in Seattle, Washington; Boulder, Colorado; Copenhagen, Denmark; Heidelberg, Germany; and Chiba, Japan.
AGC Biologics offers deep industry expertise and unique customized services for the scale-up and cGMP manufacture of protein-based therapeutics, from pre-clinical to commercial mammalian and microbial production. Integrated service offerings include plasmid (GMP pDNA) manufacturing, cell line development, bioprocess development, formulation, analytical testing, antibody drug development and conjugation, cell banking and storage and protein expression, including the proprietary CHEF1® Expression System for mammalian production. Learn more at www.agcbio.com.
SOURCE AGC Biologics