Merck has secured a deal with contract manufacturing company Avecia to acquire its biologics business. The financial aspects of the transaction have not been disclosed.
Under the terms of agreement, Merck will attain Avecia Biologics, as well as its assets, including Avecia’s development, manufacturing, quality and business support operations headquartered in Billingham, England.
According to Merck, the company will continue discussions with Avecia customers regarding their biological process development and manufacturing needs after the transaction is completed.
Avecia, a privately owned biotechnology group, provides contract development and manufacturing services in the fields of microbial-derived biopharmaceuticals and oligonucleotide medicines. Products currently being worked on include medicines targeted at forms of heart disease and stroke, as well as cancer.
The companies said regulatory approval and other customary closing conditions are needed before the deal is sealed.