Wednesday, October 26, 2022
Symeres, a prominent global Contract Research Organization (CRO) and Contract Development and Manufacturing Organization (CDMO) in the field of drug discovery, has announced the acquisition of Exemplify BioPharma, a US-based CRO specializing in integrated drug development services in Process & Analytical Chemistry and Formulation Development for pharmaceutical and biotech partners.
Keensight Capital, a leading private equity firm focused on pan-European Growth Buyout investments and the majority shareholder in Symeres, collaborated with the management teams of both companies to facilitate this business combination.
Exemplify BioPharma, located in Cranbury, New Jersey, is renowned for providing high-quality, end-to-end small molecule Chemistry Manufacturing and Controls (CMC) services to pharmaceutical and biotech partners. Their expertise lies in Process Chemistry, Analytical Chemistry, and Formulation Development, facilitating the smooth transition of programs from late-stage lead optimization to candidate selection and first-in-human stages. The company, led by co-founders Yadan Chen (CEO) and Dr. Paul O'Shea (Chief Scientific Officer), consists of a team of 20 highly skilled scientists, predominantly holding Ph.D. degrees.
This acquisition strengthens Symeres' strategic position in the United States, where the company already generates approximately 50% of its revenues. Operating from its modern 18,600 sq. ft. facility in New Jersey, Exemplify's proficiency in Process & Analytical Chemistry and Formulation Development perfectly complements Symeres' capabilities and service offerings.
Exemplify BioPharma represents Symeres' second acquisition in the US this year, following the purchase of Organix Inc., an organic chemistry services provider specializing in lipids for the mRNA therapeutics and vaccines market, based in the Boston area.
Yadan Chen, CEO of Exemplify BioPharma, expressed pride in joining the Symeres family, emphasizing the alignment of values and strong customer focus shared by both companies. Chen noted that their recent move to a larger state-of-the-art facility, combined with the global reach of Symeres, will enhance their ability to serve clients more effectively. He expressed enthusiasm for the accelerated growth opportunities that lie ahead.
Dr. Eelco Ebbers, Co-founder and CEO of Symeres, expressed satisfaction in welcoming Exemplify BioPharma to the group, citing their outstanding laboratory-based science and extensive experience in supporting the development needs of North American biotech companies. He described the acquisition as a tangible demonstration of Symeres' strategy to become a leading mid-sized transatlantic pharmaceutical R&D service provider.
Amit Karna, Partner at Keensight Capital, hailed the addition of Exemplify BioPharma as another milestone in Symeres' transatlantic expansion strategy, serving the global biopharma industry. Karna praised the excellent scientific and cultural fit between the two companies and reaffirmed Keensight Capital's support for Symeres in this exciting acquisition.
Strategic and financial advice was provided by Saola Healthcare Partners, legal counsel was provided by Goodwin Procter LLP, and financial due diligence support was provided by Alvarez & Marsal to Symeres during the acquisition process.
Symeres, headquartered in the Netherlands, is a leading transatlantic small molecule CRO & CDMO, offering a comprehensive range of R&D services from preclinical drug discovery to Phase I and II clinical stage drug development and manufacturing for major pharmaceutical and biotechnology companies worldwide. Their specialized services encompass integrated small molecule optimization efforts, complex synthetic chemistry, route scouting & API (Active Pharmaceutical Ingredient) synthesis up to GMP production, solid-state chemistry, and ADME-Tox services.
With around 600 employees, including a significant number of Ph.D. scientists, Symeres operates across multiple sites in the Netherlands
