Chinese CDMO Asymchem Expands US Footprint

Asymchem Laboratories (Tianjin) Co., Ltd., a contract development and manufacturing organization ( CDMO ) serving the global pharmaceutical and biotech industry, has acquired Snapdragon Chemistry, a U.S.-based chemical technology company providing expertise in continuous manufacturing and early-stage chemical process development services to the pharmaceutical and fine chemical industries for $57.94 million. This addition will expand Asymchem's footprint in the U.S., offering customers a seamless path from preclinical process R&D through commercial cGMP manufacture.

"We believe continuous flow manufacturing is a revolutionary technology and represents the future of pharmaceutical production, not only generating advantages to process safety and cost, but also bringing tremendous environmental benefits," said Hao Hong, chairman and CEO, Asymchem Group. "Asymchem has been deeply committed to flow chemistry technology development and its application expansion in the pharmaceutical industry for more than a decade. We are excited that this strategic acquisition will further strengthen our capabilities in continuous manufacturing, as well as broadening our service scope and client pool."

The two companies began collaborating in the Fall of 2020 when Asymchem announced an investment in Snapdragon to help expand its cGMP drug substance manufacturing suites, as well as increase its large pharmaceutical and biotech client base. This acquisition will further streamline the transition of clients' projects from early to late-stage manufacturing and commercialization.

Matthew Bio, president and CEO, Snapdragon, said, "We are thrilled to be joining Asymchem, a company that shares our passion for advancing chemical manufacturing technology. Asymchem truly understands that commitment and we look forward to continuing to develop the high-quality solutions we are known for in their integrated service ecosystem."

Snapdragon will operate as a standalone Asymchem division, and continue with its ongoing lab and manufacturing facility expansion with additional capacity to support larger, pilot scale manufacture in Waltham, MA. The company's executive leadership team will remain intact, while working with Asymchem leadership to sustain growth in 2022 and beyond.