SL Pharma Labs has been acquired by Exova Group for an undisclosed price, the acquired company’s M&A advisor said today, in a deal that brings the contract research and development organization under the control of a global testing company
Established in 1997, SL Pharma provides customized chemistry, manufacturing, and controls (CMC) product development laboratory and clinical manufacture services to pharmaceutical, biotechnology, and medical device companies.
At its FDA registered and cGMP- and GLP-compliant facility within the First State Industrial Park campus in Wilmington, DE, SL Pharma houses formulation development, chemistry, microbiology, and analytical laboratories, as well as stability chambers, QA storage, and clean rooms ranging from Class 100 to Class 100,000 for clinical manufacturing and sterility testing, according to the company’s website.
SL Pharma also specializes in the development and clinical manufacture of parenteral, ophthalmic, intranasal, and topical drug products. The company works directly with pharmaceutical, biotechnology, and medical device clients. The website includes testimonials from executives of Sanofi-Pasteur and Mylan. In addition, SL Pharma says it collaborates with CMO organizations and other service providers who require outsourced research, development, analytical, and other laboratory and manufacturing support services.
“Becoming part of a global testing and advisory business with its commitment and plans to continue to expand in the pharmaceutical sector is a great move for SL Pharma, our team, and our customers as it gives us access to additional testing capabilities and expertise to significantly expand our CMC product development capabilities,” SL Pharma President Waheed Sheikh, Ph.D., said in a statement.
Headquartered in Edinburgh, Scotland, Exova Group specializes in testing in sectors that include health sciences. The company has approximately 4200 employees in 33 countries worldwide and is publicly traded on the London Stock Exchange.
“This acquisition significantly enhances our technical expertise and service offering within the pharmaceutical market and complements our existing testing facilities in North America,” said James R. Scull, Ph.D., Exova vp, Health Sciences Americas. “The addition of SL Pharma to our portfolio is a clear demonstration of our commitment to developing our pharmaceutical business by expanding our testing capabilities to meet CMC product development and the rapidly growing need for Phase I and II clinical supplies manufacture.”
Generational Equity, an M&A advisor for SL Pharma and other privately held businesses, said the acquisition closed on April 10.