3SBio speed up expanding its global biologics platform

The Chinese biopharmaceutical company, 3SBio, announced the acquisition of Therapure, the Canadian biomanufacturing company.

The JV acquires Therapure Biomanufacturing for US$290 million.

3SBio has entered into a Shareholder Agreement with CPE Funds, pursuant to which a Joint Venture (the "JV") shall be established. The Group and CPE Funds seek to position the JV as a global, comprehensive and biologics-focused CDMO platform. On 1 September, the JV entered into an Asset Purchase Agreement with Canada-based biologics manufacturer Therapure Biopharma to acquire its CDMO business, Therapure Biomanufacturing, for US$290 million.

Through this acquisition, the Group intends to enter the North American biopharmaceutical sector, an important milestone towards the Group's strategy of building a leading global biologics business. The acquisition enables the Group to significantly enhance its connections with global biotechnology and pharmaceutical companies, and potentially explore diverse strategic partnerships and license innovative products across the world. At the same time, the expansion in the Group's CDMO business is expected to optimize the utilization of its manufacturing assets, enhance its own technical capabilities and improve its financial profile.

Dr Jing Lou, Chairman of 3SBio, commented on the acquisition: "This is a key milestone of the global expansion strategy of our biologics manufacturing business, adding a high quality asset and leadership team in Canada that will serve as a platform for growth. Over 340 biologics professionals in North America focusing on operations and management, market development, R&D and manufacturing are expected to join 3SBio, which is a big step forward in our strategy to expand our talent pool and establish global presence. The acquisition effectively integrates our mammalian cell culture capabilities and Therapure's downstream purification and plasma source technologies. The combination of Sunshine Guojian's 38,000-L production capacity, Sirton's production and service capabilities and Therapure's competitive advantages will deliver enormous synergies in both operations and profitability. 3SBio's global expansion strategy is now on fast track. We intend to accelerate the development and commercialization of innovative products toward our ultimate goal of benefiting patients around the world."

Commenting on the acquisition, Therapure's President and CEO Nick Green said: "This transaction is exciting for the future of Therapure. It will be a powerful enabler for further growth and expansion of both 3SBio and Therapure in high growth areas of the market through our combined capabilities. This will put us in a stronger position to lead, innovate and grow, and further support our current and future clients."