Novacap has completed the acquisition of CDMO PCI Synthesis, located in the Boston-area’s biotech and pharmaceutical hub, The company operates an R&D facility in Devens, MA, and a manufacturing facility in Newburyport, MA. PCI Synthesis becomes a wholly owned subsidiary with access to Novacap’s worldwide resources.
Pharmaceutical Processing reported the signing of an acquisition agreement last week.
Novacap plans to grow its presence in the U.S., and Boston will be Novacap’s hub for its U.S. pharma businesses. In the coming months, it will relocate some business and operational executives to Newburyport.
The company also supports PCI Synthesis’ business plans, which include making an additional two or three dozen new hires in Newburyport over the next 12 to 18 months as it reaches full capacity. Plans also include expanding the footprint of the Newburyport facility to meet growing demand.