Quotient Sciences, the drug development and manufacturing accelerator, announced that it has acquired Arcinova, the U.K.-based multiservice contract development and manufacturing organization (CDMO).
With over 40 years of experience and 160 employees, Arcinova provides drug substance, drug product and bioanalysis services to over 200 pharma and biotech customers worldwide.
The acquisition expands Quotient’s service portfolio and will enable the integration of drug substance, drug product and clinical testing capabilities all under one organization — extending the 12-month drug development timeline savings already delivered by Quotient’s flagship platform Translational Pharmaceutics®.
By cutting through silos and integrating a range of capabilities, outsourced development programs can be further simplified and accelerated, consistent with Quotient’s belief that molecules need to become cures, fast.
Mark Egerton, Ph.D., CEO of Quotient Sciences said:
“I’d like to congratulate the Arcinova team on building an exciting business, and I am thrilled to be joining forces.
“Both businesses are similar in culture and aspire to help customers accelerate molecules from candidate selection through development and on to commercial launch,”
“I’d also like to take this moment to thank our private equity partner, Permira, for supporting our ambitious growth plans.”
Professor Ian Shott, CBE, co-founder and executive chairman of Arcinova, said:
“Since inception, we set out to build a unique organization that accelerates the development of new medicines for patients in need.
“We are delighted to move on to the next stage with Quotient as the perfect partner for Arcinova.
“Deep science, agility, flexibility and the drive for customer service excellence are the cornerstones of both businesses.
“I look forward to working with the Quotient team and Permira to deliver even greater value for our customers.”
As part of the deal, Arcinova’s minority equity partner, BGF, will exit the business, having backed its growth since 2018.
Mark Bryant, BGF, said:
“It has been a privilege to support the expansion of Arcinova’s world-leading CDMO facility at such a critical part of its growth journey.
“We wish the team all the best as it moves to the next stage with Quotient Sciences.”
RBC Capital Markets acted as exclusive financial advisor to Quotient Sciences. PwC provided financial and tax due diligence services and Latham & Watkins provided legal counsel.
BGF received legal counsel from Weightmans. KPMG served as corporate finance adviser for Arcinova, and Womble Bond Dickinson provided legal counsel.