Thermo Fisher Acquires PeproTech to Boost Gene Therapy Market
PeproTech will increase Thermo Fisher Scientific’s capabilities in the gene therapy market and add new capabilities to its existing biotech offerings.
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By - Thermo Fisher Scientific recently completed the $1.85 billion acquisition of PeproTech to increase its capabilities in the high growth cell and gene therapy market.
PeproTech is a privately held provider of bioscience reagents known as recombinant proteins, including cytokines and growth factors. Used in broader cell culture applications, recombinant proteins help develop and manufacture cell and gene therapies.
PeproTech’s recombinant proteins portfolio complements Thermo Fisher’s cell culture media products and will allow the company to provide customers notable benefits through an integrated offering.
“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,” Marc N. Casper, chairman, president and CEO of Thermo Fisher, said in the announcement.
“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 continued.
The global gene and cell therapy market will reach $12.9 billion by 2026, at a 22.3 percent annual CAGR from 2021 to 2026. Some of the top players in this space include BlueBird Bio, UniQure N.V, Gilead, and Thermo Fisher Scientific.
In May 2020, Thermo Fisher Scientific launched a $180 million commercial manufacturing site to more than double its commercial viral vector capacity to support the increasing demand for cell therapies and vaccines.
The project added over 200 jobs and expanded the company’s capacity in both Massachusetts and Florida.
The Massachusetts-based manufacturing site is slated to leverage digital connectivity and capabilities to enable operational efficiencies, high quality, data visibility, and advanced operator training.
PeproTech will further Thermo Fisher’s biosciences business and allow the company to better serve its pharma and biotech customers by adding new capabilities to existing offerings.
PeproTech President and co-founder Bob Goldman emphasized that the company is pleased to join Thermo Fisher given its “outstanding industry leadership and shared commitment to develop innovative therapies that improve patient outcomes.”
The project is expected to be completed this year.
