Catalent Pharma Solutions has acquired the remaining stake in Redwood Bioscience Inc., and the SMARTag Antibody-Drug Conjugate (ADC) technology platform. In Catalent’s first acquisition since its IPO in July, the company continues to execute its strategy to build a differentiated technology offering and strengthen its position in the fast growing biologics market.
The acquisition follows the successful achievement of in vivo and in vitro proof of concept milestones, recent compelling in vivo toxicology data, and strong customer interest in the SMARTag technology. Catalent will acquire the remaining outstanding shares of Redwood. Redwood’s team in Emeryville, CA, will become part of Catalent’s network under the leadership of Redwood President, CSO and Founder, David Rabuka, who will continue to advance the development of the SMARTag technology as part of Catalent’s growing Biologics business.
Catalent announced in April 2013 that it had acquired an exclusive license to market the SMARTag technology and has subsequently collaborated with Redwood for the ongoing development and marketing of the platform.
“This acquisition brings to Catalent a highly differentiated technology in the SMARTag platform, as well as a high caliber and innovative scientific team,” commented John Chiminski, President and CEO, Catalent Pharma Solutions. “It is aligned with our strategic focus on innovation and technology, and further demonstrates Catalent’s ability to strengthen our position in key growth markets through internal and external investments.”
Barry Littlejohns, Catalent’s President of Advanced Delivery Technologies added, “In vivo toxicology studies have demonstrated that an ADC generated using the SMARTag platform has a better toxicity profile than a conventional ADC, and with efficacy studies, point to an improved therapeutic index. This acquisition builds on our recent investment in a state-of-the-art Biomanufacturing facility and underpins our strategy of investing in innovative technologies and differentiated solutions in the biologics space.”
The novel, site-specific SMARTag technology enables the generation of homogenous bioconjugates, engineered to improve performance and ease of manufacturing. Combined with Catalent’s proprietary GPEx® cell line expression system, its new state-of-the-art biomanufacturing Center of Excellence in Madison, Wisconsin, and broad range of analytical and fill-finish services, this latest investment marks a further expansion of Catalent’s capabilities to help customers develop more and better biologics treatments.