Thermo Fisher Scientific (NYSE:TMO) announced today that it completed its acquisition of PeproTech for approximately $1.85 billion.
Cranbury, New Jersey-based PeproTech develops recombinant proteins, including cytokines and growth factors, for use in the development and manufacturing of cell and gene therapies and other broader cell culture applications.
Waltham, Massachusetts-based Thermo Fisher said in a news release that PeproTech’s portfolio of recombinant proteins complements its cell culture media products. The $1.85 billion acquisition was officially completed on Dec. 30, 2021.
Thermo Fisher said it will integrate PeproTech into its life sciences solutions segment as it becomes part of the biosciences business within Thermo Fisher.
“PeproTech will be an excellent strategic fit within our biosciences business and will allow us to even better serve our pharma and biotech customers by adding new capabilities to our existing offering,” Thermo Fisher Chairman, President & CEO Marc N. Casper said in the release. “In combination with our proprietary bioprocessing and cell culture technologies, this complementary transaction positions us to partner with our customers to drive the evolution of the fast-growing market for cell and gene therapies. By leveraging our commercial reach, we will be able to efficiently grow the PeproTech business and generate attractive financial results all while furthering our mission to enable our customers to make the world healthier, cleaner and safer.”
Casper noted that PeproTech brings over three decades of experience across drug development and therapeutic products, plus long-standing customer relationships in pharmaceuticals, biotech and life sciences research.
“We are pleased to join Thermo Fisher given their team’s outstanding industry leadership and shared commitment to develop innovative therapies that improve patient outcomes,” PeproTech President & Co-Founder Bob Goldman said. “PeproTech’s reputation for unparalleled product consistency and quality directly aligns with that of Thermo Fisher’s, and we look forward to building on our success as part of the world leader in serving science.”