A definitive agreement has been announced by which Hepalink USA, Inc. will acquire Cytovance Biologics, Inc., a leading biopharmaceutical contract development manufacturing company. The addition of Cytovance Biologics to Hepalink USA Inc. and its parent company Shenzhen Hepalink Pharmaceutical Co., Ltd., adds a leading biologics CDMO to its current U.S. portfolio, which also includes Wisconsin-based Scientific Protein Laboratories LLC.
Hepalink’s investment will accelerate Cytovance’s expansion plans which include the addition of 5,000-liter and 10,000-liter mammalian reactors and 1,000-liter and 5,000-liter microbial fermentors, as well as increased analytical capabilities, process development and process characterization capabilities.
Under terms of the stock purchase agreement, Hepalink will acquire Cytovance for $205.68 million in cash, plus certain contingent payments. Upon consummation of the acquisition, Hepalink will hold 100 percent of the equity interest indirectly through Hepalink USA.
The transaction is expected to close in October following regulatory approval. When the transaction is completed, Cytovance management will remain in place, as will its 178 employees in the United States.
