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AGC Biologics to complete acquisition of MolMed on 31 July

28 Jul 2020

The transaction will enable the CDMO to offer plasmid production and end-to-end cell and gene therapy services.

AGC Biologics will complete its acquisition of Italian biotech Molecular Medicine SpA on 31 July, the biopharmaceutical CDMO announced on Monday.

In March, AGC launched a takeover bid for Molmed, a company focused on research, development, production and clinical validation of cell and gene therapies for the treatment of cancer and rare diseases, in a deal worth up to EUR 240 million.

AGC Biologics is now one of a select bunch of CDMOs offering both plasmid production and end-to-end cell and gene therapy services.

Cell and gene therapy is an innovative and rapidly growing therapeutic field that aims to treat diseases that do not have adequate treatments to date. Approximately 1,000 clinical trials in the field are underway worldwide, with some products receiving market authorization in the last few years and approximately 50 new therapies expected to be authorized by 2030.

Through its two commercially authorized facilities in Milan and Bresso, MolMed offers GMP services for the development and production of cell and gene therapies. MolMed provides development and GMP manufacturing services for viral vectors and genetically modified cells, from the preclinical phase through commercial demand.

"While we work hard to take care of each other and our customers during this very challenging and uncertain time, it's also important that we ensure the continued growth of our company," said AGC Biologics CEO Patricio Massera.