CSS Acquires Controlling Interest in Peptide Company ALBACHEM

10-MAY-04

CSS Acquires Controlling Interest in Peptide Company ALBACHEM

Custom Synthesis and API manufacturing company, CSS, has acquired a controlling interest in Albachem – a world leading peptide synthesis company servicing the pharmaceutical and biotechnology industries.

The strategic acquisition will strengthen the CSS service offering to global clients and further strengthen the company’s provision of niche speciality areas to the pharmaceutical industry.

Dr Stephen Barr, Managing Director of CSS, said:

“This acquisition further enhances CSS’s market differentiation through provision of specialist high technology services.  

 “It builds upon the chemistry expertise that is within the company and furthers our position at the interface between chemistry and biology.”

Professor Robert Ramage, founder and Scientific Director of Albachem, added:

“For Albachem, this validates our approach in offering robust synthesis of long chain peptides for the diagnostic and therapeutic markets.

“We can now expand our Research and Development capability to meet the changing needs of our established and future customers, throughout drug development.  Provision of cGMP synthesis will be a key feature of the company.”

Albachem was founded by Professor Robert Ramage in 1994, within the University of Edinburgh, and moved to new facilities near Edinburgh in 2002.  Its vision has been to service the anticipated need for advanced peptide chemistry in biotechnology following elucidation of the human genome.  Albachem has developed superior and unique methods for the production of small protein structures that cannot be made by biological recombinant techniques.  Professor Ramage and the existing expert team will continue to play a pivotal role in the development of the new company.

CSS is a dynamic and entrepreneurial company which has experienced excellent growth since its inception.  CSS is Ireland’s leading provider of chemistry and analytical services to the pharmaceutical industry.  CSS operates on three sites within Northern Ireland: Craigavon, Coleraine and Belfast.

Almac Sciences and its affiliated companies (CSS, CTS, ICTI, PDMS) provide pharmaceutical services across drug discovery, manufacture of API, clinical trials and drug product manufacture.  Operations are based in USA (Pennsylvania, North Carolina and California) and London in addition to Northern Ireland.

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Darlene McCormick Life COMMUNICATIONS on +44 2890 248805