Croda International, the Goole-headquartered speciality chemicals producer, is acquiring US life sciences business, Avanti Polar Lipids.
The deal brings together Avanti’s expertise in lipid-based drug delivery solutions through its research products and pharmaceutical services and Croda’s range of life science products and cGMP manufacturing capabilities to expand their respective breadth of products and services for biotechnology businesses, academic institutions and pharmaceutical companies globally.
Avanti operates from its campus in Alabama with its skilled workforce of approximately 150 employees, including over 100 scientists.
Avanti’s know-how and technologies are highly complementary to Croda’s capabilities in drug delivery systems, vaccine adjuvants and immunotherapy.
Avanti will be able to combine its leading position in pharmaceutical lipid-based applications with Croda’s access to global markets, greater manufacturing capacity and a broader set of capabilities to expand the range of products and services for the combined customer base.
Avanti will continue to operate under the Avanti brand and be led by the current management team. It will be part of Croda’s Life Sciences sector and sit within its Health Care business.
“We have long admired the Avanti team for their deep scientific know-how and are already working together on high-potential commercial opportunities,” said Steve Foots, CEO of Croda.
“With their exciting drug delivery technologies, Avanti is a market leader in a high growth niche of the health care market, serving over 3,000 customers globally.
“Bringing Avanti’s best-in-class expertise into Croda also significantly enhances our presence across the pharma product lifecycle, including early stage R&D, clinical trials, analysis and formulation.
“I am confident that Avanti will prove transformative to the capabilities and performance of our Life Sciences sector.”