Hitachi Chemical, a Tokyo-based chemicals and industrial manufacturer, has agreed to acquire Apceth Biopharma, a Munich, Germany-based contract development and manufacturing organization (CDMO) of cell and gene therapies, for EUR 75.5 million ($86.5 million).

With the acquisition of Apceth, Hitachi Chemical will be expanding its business presence footprint in Europe―the world’s second-largest market for regenerative medicine after the US, according to the companies. The move is part of Hitachi’s life-sciences strategy to launch and build a regenerative medicines business in the US, Europe, and Japan.

In May 2017, Hitachi acquired PCT, LLC, a Caladrius Company (currently Hitachi Chemical Advanced Therapeutics Solutions, LLC), a US-based contract manufacturer of regenerative medicines. In April 2018, it began operation of a new facility in Yokohama, Kanagawa Prefecture, Japan to provide contract development and manufacturing services for the development of regenerative medicine products.

Founded in 2007, Apceth Biopharma manufactures regenerative medicine products on contract for pharmaceutical manufacturers mainly in Europe and the US through its manufacturing sites of regenerative medicine products in Germany. The company manufactures various regenerative medicine products for investigation, including cancer immunotherapy cell, induced pluripotent stem cells and mesenchymal stem cells.

The deal is expected to close in April 2019.

Source: Hitachi Chemical and Apceth Biopharma