Thermo Fisher to pay $1.7 billion to enhance its position in the gene therapy space.
Brammer Bio is a Cambridge, Massachusetts–based biotech contract development and manufacturing organization focused on the development and production of viral vectors for gene and cell therapy manufacturing. The company employs close to 600 people at locations in Massachusetts and Florida and is projected to earn $250 million in revenue in 2019, with future growth predicted to exceed 25% annually over the mid-term.
This pedigree has attracted a big-name buyer. Thermo Fisher Scientific has agreed to pay $1.7 billion in cash to acquire Brammer Bio, thus adding the capability to produce viral vectors at commercial scale.
The deal includes a 66,000-square-foot phase III and commercial cGMP viral vector manufacturing site in Cambridge, a 49,000-ft2 warehouse and distribution center in Somerville, MA and an 80,000-ft2 early clinical campus in Alachua, FL. An additional Lexington, MA facility with commercial-ready Grade B clean rooms for viral vector manufacturing is expected to become operational later in 2019.
The deal is expected to close by the end of the second quarter, subject to customary closing conditions, including regulatory approvals. Brammer will then become part of Thermo Fisher’s pharma services business within its Laboratory Products and Services segment. The pharma services business provides development, manufacturing and clinical trials services for both small molecule and large molecule pharmaceuticals.