Astorg to acquire CordenPharma from ICIG
Established in 2006, CordenPharma today employs more than 2,600 people in 11 manufacturing facilities and one R&D laboratory located across Europe and the US.
The company serves more than 250 blue-chip pharma and biotech customers across five technology platforms: Peptides, Lipids & Carbohydrates (notably lipids for mRNA vaccines and therapeutics), Highly Potent & Oncology, Injectables and Small Molecules.
As a partner for the pharma industry, CordenPharma provides ‘distinctive know-how, an integrated product offering and end-to-end capabilities from early-stage development to commercial large-scale manufacturing’.
Having conducted a strategic review of its company, ICIG (International Chemical Investors Group) has decided to focus more on its chemicals portfolio.
“Knowing that CordenPharma is in professional hands with Astorg will give ICIG the opportunity to focus and pursue new opportunities in its core chemical businesses” said Dr. Achim Riemann, Managing Director of ICIG. “We are delighted that with Astorg, CordenPharma will have a very knowledgeable and capable new owner directing and supporting CordenPharma in its future growth under Michael Quirmbach’s extraordinary leadership” said Patrick Schnitzer, Managing Director of ICIG.
Meanwhile, European private equity firm Astorg says it is building up its presence in pharma services.
“We identified the CardenPharma as a leading CDMO focused on some of the most promising areas of pharma R&D and with a strong customer focus and unique innovation capabilities,” said Judith Charpentier, Partner and Head of Healthcare at Astorg.
“We look forward to having the opportunity to partner with ICIG and the Company’s founders, Michael Quirmbach and the broader management team to drive our joint vision and growth ambitions. We will leverage our expertise in pharma services and our global network to help further develop the company through both organic and external initiatives,” added Dr. Signe Michel, Director Healthcare Investments at Astorg.
