Sigma-Aldrich reports that it has acquired Molecular Medicine BioServices (MMB) in an all-cash agreement. The company, which is a biopharma CMO, will further enhance the biologics capabilities within Sigma-Aldrich’s SAFC Pharma business segment.
Sigma-Aldrich expects that this transaction will achieve its growth goals in key high technology markets over the next several years and will be neutral to earnings in 2007 with no significant initial charges. The company reports that MMB has $12 million in annualized revenues.
MMB has a 23,700-sq-ft laboratory and headquarters building and a 21,400-sq-ft manufacturing facilities in Carlsbad, CA. Its core expertise is in the development and clinical manufacturing of viral products. Significantly enhancing SAFC Pharma's oncology offer, MMB has produced clinical-grade drug products for a variety of different cancer indicators, including head, neck, prostate, and pancreatic cancers, as well as for other therapeutic indicators, including Alzheimer's disease and cardiovascular disease, according to Sigma-Aldrich.
"The acquisition of MMB continues our push into niche biologics, giving us the critical capability to manufacture virus,” comments Frank Wicks, president of SAFC. “It also complements both our new transgenic extraction and purification facility, which opened last month in St. Louis, and our potent bacterial fermentation facility currently under construction in Israel."