Transformational Partnership Establishes PCI as a CDMO and Broadens Capabilities Across Drug Product Lifecycle from Early Clinical Development to Commercialization
PHILADELPHIA–(BUSINESS WIRE)–PCI Pharma Services (PCI), a leading pharmaceutical and biopharmaceutical global integrated solutions provider, announced it has signed a definitive agreement to acquire Lyophilization Services of New England, Inc. (LSNE), a premier contract development and manufacturing organization (CDMO) headquartered in Bedford, New Hampshire, from global private equity firm Permira. Founded in 1997, LSNE has an impressive history of serving global pharmaceutical, biotechnology and medical device companies, differentiated by its high-quality cGMP aseptic fill-finish capabilities, and expertise in and ability to scale lyophilization, an important manufacturing process commonly used with injectable and biologic therapies. LSNE will expand PCI’s breadth of services as a global CDMO, building on PCI’s expertise in biologics packaging and specialty manufacturing. The acquisition adds five FDA-approved facilities in the U.S. (New Hampshire, Wisconsin) and Europe (Spain), with a sixth expecting approval over the coming months, and three additional facilities under development, to strengthen PCI’s global 30-site network.
“We are excited to welcome LSNE into the PCI family,” said Salim Haffar, chief executive officer, PCI Pharma Services. “Their passion for patients, talented team, robust compliance culture, operating excellence and innovative approach to client challenges are perfectly aligned with our global strategy as PCI strives to be the bridge between life-changing therapies and patients around the world. We are particularly eager to note that this acquisition will expand our manufacturing offerings worldwide, providing clients with a single source for their drug development and packaging needs, reducing supply chain complexity and accelerating speed to market for their much-needed treatments.”
With the addition of LSNE, PCI will be able to offer integrated large and small molecule solutions for its clinical and commercial clients. This includes expanded global manufacturing capabilities in complex formulations, high potency, and now lyophilization for a broad range of injectables including nanoparticles, mRNA, mABs, proteins, oligonucleotides, and other biologics across formats from vials and bottles to pre-filled syringes and autoinjectors.
“We are delighted that LSNE is joining the PCI team and anticipate a seamless integration for our employees and clients. We have a shared focus on innovation, quality, exceptional customer service and our people,” said Matt Halvorsen, LSNE founder and CEO. “Joining forces with a global industry leader, such as PCI, is a great step forward for LSNE and will produce a winning combination for our clients, employees and the patients we jointly serve.”
LSNE marks PCI’s fourth acquisition in three years, exemplifying PCI’s enhanced focus on global specialty manufacturing capabilities while complementing its existing clinical and commercial packaging expertise. Matt Jennings, PCI Chairman, added, “On behalf of our investors we are delighted to support this strategic and transformational investment to create a top-tier global and integrated CDMO benefitting patients, clients, employees and shareholders. This milestone underscores PCI’s global strategy and commitment to be the partner of choice for specialized client needs.”
Jefferies LLC acted as exclusive financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP as counsel to PCI Pharma Services.
PCI is headquartered in Philadelphia, PA.
About PCI Pharma Services
The global healthcare industry trusts PCI for the drug development solutions that increase their products’ speed to market and opportunities for commercial success. Only PCI brings the proven experience that comes with more than 50 successful product launches each year and over five decades in the healthcare services business. Leading technology and continued investment enable us to address global development needs throughout the product life cycle — from Phase I Clinical trials through commercialization and ongoing supply. Our clients view us as an extension of their business and a collaborative partner, with the shared goal of improving patients’ lives. For more information, please visit www.pciservices.com.