Acquisition Establishes LSNE's Presence in Europe
Adds Pre-filled Syringe and Ophthalmic Capabilities While Increasing Aseptic Fill Finish Capacity for Vials
BEDFORD, N.H./PRNewswire/ -- Lyophilization Services of New England (LSNE), a leading contract development and manufacturing organization (CDMO), announced today the acquisition of a sterile injectables manufacturing facility located in León, Spain. The site, LSNE-León, will complement LSNE's existing full-service manufacturing capabilities and expand its reach into Europe.
In addition to adding pre-filled syringe, ophthalmic and sterile bulk lyophilization capabilities, the new facility will also focus on pharmaceutical products that have complex requirements such as emulsions, suspensions, liposomal formulations and nanoparticle products. The facility includes four high speed, automated aseptic fill lines and commercial scale lyophilization for the manufacture of clinical and commercial drug products.
"Acquiring this high quality facility in León was the logical next step in our growth strategy given our strong and growing client base in Europe," said Matthew Halvorsen, Chief Executive Officer at LSNE. "This new location will enable us to better serve clients by leveraging our successful regulatory history and expertise in sterile drug product manufacturing to provide them with the highest level of compliance and support. We are excited to welcome the talented team in León, and believe there is tremendous potential for future success."
The León facility purchase is LSNE's second under the Permira funds' ownership. In April 2018, LSNE acquired a 37,000 square foot cGMP aseptic fill finish facility in Madison, Wisconsin. "With the Permira funds' support, LSNE continues to execute its strategy and pursue its growth opportunities through capacity expansion, enhancing existing infrastructure, investing additional capital in state-of-the-art equipment, and growing personnel over time," said Shawn Cain, Chief Operating Officer at LSNE. "We continue to see increasing demand for sterile liquid and lyophilization manufacturing services across our growing client base, and look forward to having additional capacity to offer our clients a variety of sterile dosage forms."
LSNE-León is located northwest of Madrid in Spain's fastest growing pharmaceutical hub. The LSNE León facility has recently completed both Food and Drug Administration (FDA) and Spanish Agency of Medicines and Medical Devices (AEMPS) inspections, and is able to support large-scale commercial production in both the US and EU.
RBC Capital Markets LLC and Axxellerance GmbH provided advisory services to LSNE in support of the transaction.
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