Danish company buys Bothell biotech operation
Published 12:06 pm Tuesday, December 4, 2007
BOTHELL – Denmark-based CMC Biopharmaceuticals A/S has agreed to buy a contract manufacturing operation formerly owned by ICOS Corp. in a deal that will keep the facility and its 127 employees working.
Mads Laustsen, CMC’s chief executive officer, said this morning the company hopes to eventually expand the operation so it can handle commercial-scale manufacturing of biotechnology drugs for other companies. Up until now, it has produced limited batches of drugs for clinical testing.
“Our plans to upgrade the facility in order to manufacture commercial product will mean that we can provide additional services to both existing and new clients. Moreover, by establishing a presence in the USA, we’ve placed CMC in an enhanced position to actively seek opportunities to grow our business,” Laustsen said in a written statement.
In the same statement, Snohomish County Executive Aaron Reardon praised CMC for saving jobs that were at risk after the $2 billion buyout earlier this year of ICOS by Eli Lilly &Co. While nearly all of ICOS’ offices are now closed, Lilly kept the contract manufacturing facility open and had been pursuing potential buyers.
The facility in Bothell is being renamed CMC ICOS Biologics. Financial terms of the deal were not disclosed. This is the first facility in the U.S. for privately owned CMC, which got its start in 2001, Laustsen said.
