Lilly Sells Former ICOS Biologics Operation
COPENHAGEN, DENMARK â€“CMC Biopharmaceuticals A/S (CMC) today announced that it has reached an agreement to buy the biologics development and manufacturing operation that Eli Lilly and Company (NYSE: LLY) acquired when it purchased ICOS Corporation in January 2007.
CMC, a Copenhagen, Denmark based leading provider of contract biomanufacturing services, will purchase the biologics facility in Bothell, Washington State, USA. The new operation, CMC ICOS Biologics Inc., which will expand the Danish companyâ€™s operations into the United States, will continue to develop and manufacture therapeutic proteins for early clinical trials for its customers. CMC is planning significant investment in the facility to enable production of late stage clinical trial and commercial biopharmaceuticals.
As a part of the agreement, CMC will retain the existing 127 employees working at the biologics facility in Bothell, which continued to operate after being purchased by Lilly. Other terms of the agreement were not disclosed.
â€œWeâ€™re extremely excited about our acquisition of ICOS Biologics. We feel strongly that the skills inherent in the employees that work here are of great value to the biologics industry and will complement the abilities of our expert workforce in Europe,â€ said David Kauffmann, Chairman, CMC. â€œOur 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, weâ€™ve placed CMC in an enhanced position to actively seek opportunities to grow our business,â€ said Mads Laustsen, CEO, CMC.
â€œFinding the right company to acquire the ICOS biologics operation has been a priority for Lilly,â€ said Gino Santini, Lillyâ€™s senior vice president of corporate strategy and business development. â€œWe are pleased that CMC has committed to retaining the existing staff and serving its current customers. As well, CMC keeps an important biotech presence in Seattle in the Puget Sound region of Washington State, which could ultimately generate broader economic growth and opportunity for the region.â€
"Snohomish County was pleased to have been a business partner with Lilly and applaud its success in protecting local jobs. We are very excited about the opportunities that CMC brings and pledge to help make their transition as smooth as possible." - Snohomsh County Executive Aaron Reardon
"ICOS has always been a great success story for life sciences in Washington, and we are grateful for all the creative and generous work done by Eli Lilly to maximize this positive legacy,â€ said Washington Biotechnology & Biomedical Association President Jack Faris. â€œWBBA is delighted to welcome CMC; we look forward to their participation in the future of life sciences in Washington."
About CMC Biopharmaceuticals A/S
Based in Copenhagen, Denmark, CMC is a European leading contract development and manufacturing organization with sales offices located in Europe and the U.S. CMC provides fully integrated biopharmaceutical development and manufacturing services to clients around the world, taking their projects from gene to licensed product. The company specializes in custom services for the scale-up and cGMP manufacture of protein-based therapeutics for pre-clinical, clinical trials and in-market production. Services include a comprehensive range of process and analytical development activities. The companyâ€™s modern, purpose built facility has fully segregated microbial fermentation and mammalian cell culture suites and offers both stirred tank and perfusion production processes. For further information, visit: www.cmcbio.com.
Lilly, a leading innovation-driven corporation, is developing a growing portfolio of first-in-class and best-in-class pharmaceutical products by applying the latest research from its own worldwide laboratories and from collaborations with eminent scientific organizations. Headquartered in Indianapolis, Ind., Lilly provides answers â€“ through medicines and information â€“ for some of the world's most urgent medical needs. Additional information about Lilly is available at www.lilly.com.