Sunnyvale, CA and Tokyo, Japan – February 26, 2015 – JSR Corporation (JSR), along with Tokyo-based CMIC Holdings Co. Ltd. (CMIC) and Innovation Network Corporation of Japan (INCJ), announced today that they have agreed to acquire KBI Biopharma, Inc., a biopharmaceutical contract development and manufacturing organization with facilities in Durham and Research Triangle Park, North Carolina and Boulder, Colorado. Following completion of the acquisition, JSR will own the majority interest in KBI within the acquiring group.
With this acquisition, JSR continues to demonstrate its commitment to the life sciences industry, by expanding its bioprocess capabilities and gaining a strong, successful partner.
KBI is a well-established leader in contract development and manufacturing of biopharmaceutical products, with an extensive track record of successful programs for its clients. The acquisition of KBI will allow JSR to facilitate the acceleration of the company's growth plans, with increased capacity as well as global expansion, including additional customers in Japan and Asia.
"This event is best described as the beginning of a partnership that will enable each company to continue to provide innovation for the bioprocessing development and manufacturing space," said JSR Corporation President, Mitsunobu Koshiba. "We have been extremely impressed with KBI at the technical, management and customer service levels. We will look to KBI to enhance our bioprocess product development and increase our understanding of the market in general. We expect that KBI's extensive experience, expertise and technology will help drive our innovation cycle."
"Through this exciting new partnership, we will leverage the combination of KBI's core competencies, along with the material science leadership, global presence and financial strength of our new partners," said KBI President and CEO Joe McMahon. "In addition, with our well-aligned values and common focus on scientific innovation and customer service, we will continue our mission to improve the quality of human life by accelerating our clients' development of innovative medicines for patients on a global basis."
In addition to the acquisition of KBI, JSR and CMIC have entered into a joint project to develop design and manufacturing processes and process materials for the next generation of antibody pharmaceuticals. Both companies expect the new relationship with KBI to contribute greatly to the project's success. INCJ will support this, and other development efforts, through its industry-academia-government network in Japan. The global biopharmaceutical market is forecast to expand to US$2.5 trillion in 2024, and the manufacturing process development and contract manufacturing markets are projected to grow to US$8.3 billion.
About JSR Corporation
The JSR Group uses its unique polymer technology to provide synthetic rubbers, emulsions and synthetic resins, semiconductor materials, and display materials. The JSR Group is expanding its business globally with its focus on life sciences and lithium ion capacitors as strategic businesses for sustainable growth.
For details, please visit www.jsr.co.jp.
About Innovation Network Corporation of Japan (INCJ)
INCJ was established in July 2009 as a public-private partnership that provides financial, technological and management support for next-generation businesses. INCJ specifically supports those projects that combine technologies and varied expertise across industries and materialize open innovation. INCJ has the capacity to invest up to 2 trillion yen (approx. US$20 billion).
About CMIC HOLDINGS Co., Ltd.
CMIC Group first started the CRO (Contract Research Organization) business in 1992, and currently offers a comprehensive support services for the pharmaceuticals products from Research and Development to Sales and Marketing. In addition, CMIC Group is also involved in the health care business, as well as the development and sales of diagnostic drugs and orphan drugs (an original product of CMIC).
About KBI Biopharma, Inc.
KBI is a leading contract development and manufacturing organization focusing on biopharmaceuticals. To date, KBI has helped to advance drug development programs for over 200 clients around the world. KBI offers an extensive suite of expert development and manufacturing services through an agile, science-based and customer-focused approach.