Clinigen sells global development business
Burton pharma giant Clinigen has sold its Lamda Laboratories business to Adragos Pharma GmbH.
Lamda Laboratories, of Athens, Greece, serves as Clinigen’s sole development centre and is also an established contract development organization (CDO) for third party customers.
It will continue to provide services for Clinigen following the deal with Munich-based Adragos.
The acquisition will help to expand Adragos’ pharmaceutical product development, regulatory affairs and supply chain management services.
David Bryant, interim CEO of Clinigen Limited, said: “We are pleased to have found in Adragos Pharma a trusted partner to build on the success story of Lamda with its great team taking it to the next level while also continuing to support Clinigen as we focus on providing high-value services to the biopharma industry.”
Announcing the deal, Adragos CEO Dr Andreas Raabe praised the “impressive track record and professional service mindset at Lamda.”
He said: “Lamda combines differentiated product development capabilities with substantial scale, an essential combination for our international group.”
Financial details of the transaction have not been disclosed.