Thermo Fisher Scientific started off the new year with a new member to its family, closing a $1.85 billion acquisition to build out its recombinant protein catalog.
The medtech giant announced today that it had inked a cash deal for PeproTech in the final days of 2021. The private, New Jersey-based company provides researchers with bioscience reagents such as cytokines, growth factors and other ingredients used in the development and production of cell and gene therapies.
Going forward, PeproTech’s list of more than 2,000 products will be offered alongside the cell culture and bioprocessing technologies within Thermo Fisher’s life science solutions segment, Thermo Fisher President and CEO Marc Casper said. Founded in 1988, PeproTech maintains over 100 employees internationally.
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The deal comes not long after Thermo Fisher completed one of the largest medtech acquisitions of the past year: its $17.4 billion buyout of major contract researcher PPD and the incorporation of its more than 30,000 employees.
First announced in April 2021 and finalized in early December, Thermo Fisher said it saw that buyout as a natural growth of the company’s separate lab equipment business segment and a way to expand the services it provides to biopharma customers advancing drugs through clinical testing.
In today's statement about the PeproTech deal, Casper said: "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.
"With more than three decades of experience across a broad range of applications for drug development and therapeutic products, the PeproTech team has built long-standing customer relationships in pharma and biotech and life sciences research."