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Brammer Bio is one of the leading viral vector contract development and manufacturing organizations (CDMOs), enabling biopharma's customers to deliver breakthrough drugs to patients by unleashing the potential of gene therapies and altered cell therapies. Genoa. The company has nearly 600 employees at key sites in Mbadachusetts and Florida.
Brammer Bio is about to deliver $ 250 million turnover in 2019 and is expected to continue to exceed the expected market growth rate of 25% in the medium term. Thermo Fisher expects the company to be accretive for adjusted earnings per share in $ 0.10 in the first full year of ownership.
"Brammer Bio will be an exciting addition to our pharmaceutical services business and will further strengthen Thermo Fisher & # 39; s leadership in serving pharmaceutical and biotechnology clients ", said Marc N. Casper, President and CEO of Thermo Fisher Scientific. "Gene therapy is an area that our clients are increasingly interested in. It is evolving rapidly because of its potential to treat a range of genetic disorders, combining Brammer Bio's viral vector capabilities with our expertise in GMP production and our patented biotreatment and cell culture technologies are uniquely positioned to partner with our customers to evolve this fast-growing market.This transaction fits perfectly with our mission: to enable our customers to the world healthier, cleaner and safer. "
Speaking on behalf of Brammer Bio, co-founders Mark Bamforth, President and CEO, and Dr. Richard Snyder"We are proud to be pioneers in process development and viral vector manufacturing." Brammer Bio has completed more than 100 projects to provide the first clinical trials on human gene therapy and set up processes that are ready to go. sell, and we are excited to join Thermo Fisher to take our business to the next level. Our teams share the same goal: to help our clients deliver cutting-edge treatments to patients in need. "
Michel Lagarde, president of Thermo Fisher & # 39; s Pharma Services Business, added, "By leveraging our combined capabilities, as well as our commercial reach and customer relationships, we will strengthen our position as a trusted partner in the pharmaceutical and biotechnology industry. To welcome the Brammer Bio team within our society together to put more vital treatments at the disposal of patients. "
The transaction, which is expected to be completed by the end of the second quarter of 2019, is subject to customary closing conditions, including regulatory approvals. In the end, Brammer Bio will be part of Thermo Fisher & # 39; s pharma services within its Laboratory Products and Services segment.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc. is the world leader in science services, with revenues of more than $ 24 billion and about 70,000 employees worldwide. Our mission is to enable our customers to make the world healthier, cleaner and safer. We help our clients accelerate life science research, solve complex badytical problems, improve patient diagnosis, market drugs and increase lab productivity. Through our leading brands (Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific and Unity Lab Services) we offer an unmatched combination of innovative technologies, convenience of purchase and comprehensive services. For more information, please visit www.thermofisher.com.
About Brammer Bio
Brammer Bio provides a clinical and commercial supply of vectors for in vivo and in vivo gene therapy, as well as process and badytical development, as well as regulatory support, enabling major pharmaceutical and healthcare customers. Biotechnology accelerate the delivery of new drugs to improve patients & # 39; health. Brammer helps to heal®. Brammer is owned by Ampersand Capital Partners, the only institutional investor in the company, and its founders. For more information, please visit www.brammerbio.com.
About Ampersand Capital Partners
Founded in 1988, Ampersand is a mid-market private equity firm focused on growth-oriented investments in the healthcare industry. With offices in Boston and AmsterdamAmpersand leverages its unique combination of private equity and operating experience to create value and deliver superior long-term performance alongside its portfolio management teams. Ampersand has helped create many leading companies in each of its core healthcare sectors. Additional information on Ampersand is available at www.ampersandcapital.com.
Forward-looking statements
The following constitute a "Safe Harbor" Statement within the meaning of the Securities Litigation Reform Law of 1995: This press release contains forward-looking statements that involve a number of risks and uncertainties. Important factors that could cause actual results to differ materially from those in the forward-looking statements include risks and uncertainties related to: the need to develop new products and to adapt to significant technological change; implementation of growth improvement strategies; general economic conditions and badociated uncertainties; dependence on capital spending policies and client financing policies; the effect of economic and political conditions and exchange rate fluctuations on international operations; use and protection of intellectual property; the effect of changes in government regulations; and the effect of laws and regulations governing government contracts, as well as the possibility that the expected benefits from our acquisition of Brammer Bio or other recent or pending acquisitions are not materializing as expected. Other significant factors that could cause a material difference between the actual results and those indicated in the forward-looking statements can be found in our Annual Report on Form 10-K for the year ended at the end of the year. 39; exercise. the 31st of December, 2018, available from the SEC and available in the Investors section of our website under "SEC Filing". Although we may choose to update the forward-looking statements at some point in the future, we disclaim any obligation to do so even if the estimates change. Therefore, you should not rely on these forward-looking statements as representing our point of view as of any date after today.
Use of non-GAAP financial measures
In addition to financial measures prepared in accordance with generally accepted accounting principles (GAAP), we use certain non-GAAP financial measures, including adjusted EPS, that exclude certain items that are not part of our normal business and / or, in some cases , difficult to predict accurately for future periods. We believe that the use of non-GAAP measures helps investors better understand our key results of operations and future prospects, consistent with how management measures and forecasts the performance of the company, particularly when these results are compared with previous periods or forecasts.
The non-GAAP financial measure included in this news release is not intended to be considered superior or substitutable for the comparable measure established under GAAP. Thermo Fisher does not provide GAAP financial measures as we are unable to predict with reasonable certainty and unreasonable effort items such as the timing and amount of future restructuring and acquisition-related expenses, as well as gains or losses resulting from the sale of real estate and businesses, early withdrawal of debt and the outcome of legal proceedings. The timing and amount of these elements are uncertain and may be important for Thermo Fisher & # 39; s the results are calculated in accordance with GAAP.
Media contact information:
Karen Kirkwood
Phone: 781-622-1306
E-mail: [email protected]
Website: www.thermofisher.com
Investor contact information:
Ken Apicerno
Phone: 781-622-1294
E-mail: [email protected]
For Brammer Bio:
Erin Morton
Phone: 352-519-8351
E-mail: [email protected]
SOURCE Thermo Fisher Scientific
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