Snapdragon Chemistry announced its proposed acquisition by Asymchem, a leading CDMO serving the global pharmaceutical and biotech industry. The addition significantly expands Asymchem’s footprint in the United States, harnessing Snapdragon’s industry-leading expertise in Process development and continuous manufacturing. Snapdragon Chemistry and Asymchem will continue to expand the breadth and depth of the solutions required by the industry through organic and non-organic growth in the United States and around the
“At Snapdragon, we have believed since our founding that scientific innovation is paramount to delivering best-in-class products and services to our clients,” said Snapdragon President and CEO Matthew Bio. “Today’s news marks a thrilling new chapter in the growth, scale and reach of that innovation. 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.”
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“I also want to recognize our incredible employees, who have always been our greatest asset and most valuable resource. Our culture of entrepreneurism and innovation has attracted the leading scientists and engineers, intent on solving some of the industry’s most complex and challenging chemistry problems. Today’s news is a testament to your unyielding hard work, diligence and long track record of success. Together with Asymchem, we can look forward to greatly expanding our capabilities and service offerings, delivering value to our clients.”
“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 Dr. Hao Hong, Chairman & CEO of 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.”
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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.
The two companies began collaborating in the Fall of 2020 when Asymchem announced a strategic 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 world.
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