Sigma-Aldrich Acquires Molecular Medicine BioServices to Expand SAFC Pharma Capabilities
Sigma-Aldrich Corporation announced that it has acquired Molecular medicine BioServices Inc. (MMB), a biopharmaceutical contract manufacturing organization (CMO) located in Carlsbad, California, to further enhance the biologics capabilities within its SAFC Pharma business segment.
With $12 million in annualized revenues, the acquisition of MMB is expected to help Sigma-Aldrich achieve its growth goals in key high technology markets over the next several years and will be neutral to earnings in 2007 with no significant initial charges. Terms of the purchase, which were not disclosed, were paid in cash.
David Backer, President of MMB, an equity holder and one of the company's founders, will continue as Site Director for SAFC's newest business. All current employees in good standing, including all of MMB's existing management team, will be retained.
MMB was founded in 1997 and employs 60 people at its state-of-the-art 23,700 square foot laboratory and headquarters building and 21,400 square foot manufacturing facilities in Carlsbad. Its core expertise is in the development and clinical manufacturing of viral products, drawing on cutting-edge technology to deliver DNA, RNA and critical active ingredients for the production of novel vaccines and gene therapies.
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