- Formosa Laboratories have completed their acquisition of SynChem, expanding contract manufacturing services in the United States
Formosa Laboratories has announced the successful acquisition of SynChem, Inc., a contract research laboratory based in suburban Chicago. Formosa Laboratories, Inc., a Taiwanese API supplier and CDMO, has acquired SynChem, Inc. The acquisition will see SynChem rebranded as SynChem-Formosa. The acquisition has recently been completed, though the exact date was not specified. SynChem is located in suburban Chicago, USA.
This move aims to advance Formosa’s growth in the CDMO sector and enhance its service offerings. SynChem’s expertise in organic synthesis and process development, combined with Formosa’s capabilities in GMP production and bio-conjugation, will provide comprehensive CDMO services.
The acquisition marks a pivotal development for Formosa’s expansion strategy, particularly in the area of antibody-drug conjugates (ADCs) payloads and linkers, a niche but rapidly growing field within pharmaceutical manufacturing. Dr. W. Paul Mar will maintain his role as CEO of the newly named SynChem-Formosa, ensuring continuity in leadership and operations.
Dr. Cheng, Chairman and President of Formosa, expressed his views on the merger: “This acquisition represents a pivotal advancement in Formosa’s ongoing growth within the CDMO sector.” He highlighted SynChem’s established record in delivering high-quality services, which, when combined with Formosa’s scale-up and production capabilities, positions the company for significant growth.
Dr. Mar also commented on the merger, stating, “Joining the Formosa family marks an exciting new chapter for us.” His enthusiasm for the merger reflects the potential for SynChem-Formosa to become a leading name in the CDMO landscape for small molecule APIs and ADCs in the United States.
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