Taiwan’s Bora Group will shell out up to $127.5 million to acquire the CDMO business and manufacturing operations from Maryland-based MacroGenics.
The deal calls for Bora to pay $122.5 million, with a $5 million contingency tied to future customer orders, the company said in a May 12 press release.
Additionally, Bora plans to ink a long-term CDMO services agreement with MacroGeneics upon the deal's close.
With the acquisition, Bora will get its hands on a biologics drug substance manufacturing facility in Rockville, Maryland, and an associated warehousing center roughly 30 miles away in the same state. Commercial manufacturing at the Rockville site currently accounts for half of the facility’s revenue. Last year, MacroGenics reported CDMO revenue of $52.6 million.
“This acquisition marks a pivotal step in strengthening Bora’s integrated biologics CDMO platform in the United States,” Bobby Sheng, Bora’s chair and CEO, said in a statement.
He continued, “With the addition of the Rockville site, Bora Biologics total drug substance capacity would be 20,000-liter and Bora Group will integrate our in-house drug Substance and drug product capabilities and network investments over the next 12 to 18 months to offer global biotech customers a seamless offering allowing customers to advance programs from development through commercial supply with one single partner.”
The Rockville facility features five 2,000-liter and two 500-liter single-use bioreactors and fully integrated quality control and analytical laboratories, according to the release.
When the sale is final, Bora and Tanvex Biopharma, which operates the group’s biologics CDMO franchise Bora Biologics, will leverage the facility to scale up its end-to-end biologics platform.
Earlier this year, Bora renewed a $250 million global manufacturing pact with British drugmaker GSK, covering a five-year term.
The agreement touches on end-to-end manufacturing services for more than 20 commercial GSK product lines and over 335 individual products, with indications spanning HIV, malaria, pneumonia, parasitic infections, depression, migraine, acne, eczema and psoriasis.