Seeking to bolster its CDMO business, Bora Pharmaceuticals is acquiring an approximate 30.5% stake in Taiwanese drug maker Tanvex BioPharma.
The agreement is expected to close in the first quarter of 2025 and will make Bora the single largest shareholder of Tanvex. As per the agreement, Tanvex will combine its manufacturing capacity with Bora’s contract development and manufacturing services (CDMO) arm, Bora Biologics. Additionally, Bobby Sheng, CEO of the Bora Group, will serve as chairman for the merged organization.
“Upon completion, we will be able to offer clients the flexibility of up to 500 or 1,000 liter batch sizes, so the combined organization is better able to ‘right size’ drug-substance processing and maximize efficiency,” Sally Langa, senior vice president of sales and marketing at Bora Pharmaceuticals told BioProcess Insider.
“Tanvex provides biologics development and manufacturing operations in both the US and Taiwan. The deal will see Bora combined with Tanvex’s established FDA-approved commercial scale biologics facility and biosimilar expertise, from early stage non-GMP pre-clinical development to commercial stage cGMP [current good manufacturing practice] manufacturing.”
According to the firm, Tanvex will be able to access Bora’s 87,000 square-foot facility in Baltimore, MD, while Tanvex brings over 100,000 square-foot of biomanufacturing space with 1,000-liter bioreactors.
“With a growing customer base and demand in North America, it has been our strategic aim to grow our US footprint and to expand our offering for biologics customers. Our aim is to be a global full service CDMO, and this agreement will, when completed, provide access to drug substance capabilities within the US,” Langa added.
Recently, Bora completed the acquisition of Emergent’s Camden plant in Baltimore, MD, to help meet its CDMO ambitions. With an investment of $30 million, the 87,000 square-foot sterile manufacturing facility provides drug-product manufacturing for sterile injectables and offers clinical and commercial non-viral aseptic fill/finish services.
In 2022, Bora Pharmaceuticals acquired Eden Biologics’ CDMO assets in Taiwan for $50 million, through which the firm gained assets located in Hsinchu Biomedical Science Park in Zhubei City, Taiwan.
Moreover, in 2021 the firm partnered with Taishin Healthcare Limited to jointly invest $108 million to strengthen their CDMO offering.
The financials of this acquisition were not disclosed.
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