WALTHAM, Mass., January 5, 2022 / PRNewswire / – Thermo Fisher Scientific Inc. (NYSE: TMO), the global leader in serving science, and PeproTech, Inc., a leading developer and manufacturer of recombinant proteins, today announced that Thermo Fisher has finalized the acquisition of PeproTech on December 30, 2021 for a total cash purchase price of approximately $ 1.85 billion.
Situated at Cranbury, New Jersey, PeproTech is a private supplier of bioscientific reagents known as recombinant proteins, including cytokines and growth factors. Recombinant proteins are used in the development and manufacture of cell and gene therapies as well as in broader cell culture applications, particularly for use in cell research models. PeproTech’s portfolio of recombinant proteins completes Thermo Fisher’s products of cell culture media and will allow Thermo Fisher offer customers significant advantages through an integrated offer.
“PeproTech will be an excellent strategic fit within our biosciences business and allow us to better serve our pharmaceutical and biotechnology customers by adding new capabilities to our existing offering,” said Marc N. Casper, President, President and CEO of Thermo Fisher Scientific. “In combination with our proprietary bioprocessing and cell culture technologies, this complementary transaction positions us in partnership with our clients to drive the evolution of the rapidly growing cell and gene therapy market. By leveraging our commercial reach, we will be able to grow PeproTech’s business and generate attractive financial results while continuing our mission of enabling our customers to make the world healthier, cleaner and safer. ”
Casper added, “With over three decades of experience in a wide variety of drug and therapeutic product development applications, the PeproTech team has built long-standing relationships with clients in the areas of research. pharmaceutical, biotechnology and life sciences. talented team for Thermo Fisher. “
Bob goldman, President and Co-Founder of PeproTech, said: “We are delighted to join Thermo Fisher given their team’s exceptional leadership in the industry and their shared commitment to developing innovative therapies that improve patient outcomes. PeproTech’s reputation for unparalleled product consistency and quality aligns directly with that of Thermo Fisher’s, and we look forward to building on our success as a global leader in the service of science. “
PeproTech will be part of the biosciences activity within Thermo Fisher and will be integrated into the Life Sciences Solutions segment.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc. (NYSE: TMO) is the global leader in serving science, with annual sales of approximately 40 billion dollars. Our mission is to empower our customers to make the world healthier, cleaner and safer. Whether our clients accelerate life science research, solve complex analytical challenges, increase the productivity of their laboratories, improve patient health through diagnosis or the development and manufacture of life-changing therapies, we are here. to support them. Our global team of more than 100,000 colleagues deliver an unmatched combination of innovative technologies, purchasing convenience and pharmacy services through our industry-leading brands including Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services, Patheon and PPD. For more information, please visit www.thermofisher.com.
PeproTech, Inc., a New Jersey a company incorporated in 1988, creates the building blocks of life science research by manufacturing high quality products that advance scientific discovery and human health. Our business is strongly focused on the development, manufacture and sale of cytokines for research use only and GMP and other products that support and meet the needs and demands of scientists and researchers today.
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The following constitutes a “safe harbor” statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that involve a number of risks and uncertainties. Important factors that could cause actual results to differ materially from those indicated by forward-looking statements include risks and uncertainties relating to: the duration and severity of the COVID-19 pandemic; the need to develop new products and adapt to significant technological changes; implementation of growth improvement strategies; general economic conditions and associated uncertainties; dependence on client capital expenditure policies and government funding policies; the effect of economic and political conditions and exchange rate fluctuations on international operations; use and protection of intellectual property; the effect of changes in government regulations; any natural disaster, public health crisis or other catastrophic event; and the effect of laws and regulations governing government procurement, as well as the possibility that expected benefits from recent or ongoing acquisitions may not materialize as expected. Other important factors that could cause actual results to differ materially from those shown in these forward-looking statements are set out in our most recent annual report on Form 10-K and subsequent quarterly reports on Form 10-Q, which are filed with the SEC and available in the “Investors” section of our website under the heading “SEC Filings”. Although we may choose to update forward-looking statements at some time in the future, we specifically disclaim any obligation to do so, even if estimates change and, therefore, you should not rely on such forward-looking statements as representing our views as of any date subsequent to today.
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SOURCE Thermo Fisher Scientific