Patheon, a provider of high-quality drug development and delivery is to acquire IRIX Pharmaceuticals, a company that specialises in difficult to manufacture Active Pharmaceutical Ingredient (API) needs for drugs from early and late development, through commercial launch. Patheon will purchase IRIX and expects to close the transaction in the next 60 days.
The group will secure additional API development and manufacturing services in the U.S., including high-potency (SafeBridge Class IV certified) and controlled substances (Schedule 1-4). IRIX has a history in optimisation of chemical processes and scale up for commercial API manufacturing.
“This is an exciting time at Patheon as we continue to secure important capabilities around the globe to address growing customer needs,” said Lukas Utiger, president, DPx Fine Chemicals and leader of the Patheon OneSource offering. “With this deal we expand our Patheon OneSource integrated offering and leverage years of operational experience and scientific excellence at IRIX to complement Patheon’s existing API operations in Europe.”
Combined the two firms offer biocatalysis, homogeneous catalysis and microreactors.
“Combining companies with shared commitments to both scientific excellence and customer service drives industry excellence, and we are excited to become part of the Patheon network,” said Guy Steenrod, chief executive officer, IRIX. “This is a strategic deal that allows us to help customers solve complex challenges with comprehensive, integrated solutions.”