Thermo Fisher expands into gene therapy in $1.7bn deal
Biotech company Thermo Fisher Scientific has announced plans to acquire Brammer Bio, a viral vector manufacturer for gene and cell therapies, for $1.7 billion.
Announced on Sunday, March 24, the deal will see Thermo Fisher expand its reach into gene therapy.
Brammer Bio, which has almost 600 employees and was founded in 2016, is expected to post $250 million in revenue for 2019, according to the Thermo Fisher.
Marc Casper, president and CEO of Thermo Fisher, said: “Brammer Bio will be an exciting addition to our pharma services business and will further strengthen Thermo Fisher's leadership in serving pharma and biotech customers.”
He added that gene therapy is an area of increasing focus for the company’s customers and is fast-evolving given its potential to treat a range of genetic disorders.
The transaction is expected to be completed by the end of the second quarter of 2019.
Brammer Bio’s co-founders Mark Bamforth, president and CEO, and Richard Snyder, chief scientific officer, said that the company has executed more than 100 projects to supply first-in-human gene therapy clinical trials and establish commercial-ready processes.
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