East Rutherford-based Cambrex Corp., a life sciences company that provides products and services for small molecule therapeutics and generic active pharmaceutical ingredients, entered into a definitive agreement to acquire Avista Pharma Solutions, a contract development, manufacturing and testing organization, for about $252 million.
Avista is a portfolio company of Ampersand Capital Partners, a health care-focused private equity firm.
In a statement, Cambrex said that with the acquisition, Cambrex will enter the large and growing market for early stage small-molecule development and testing services.
Avista, for its part, offers a broad suite of scientifically differentiated services ranging from API and drug product development to standalone analytical, microbiology testing and solid-state sciences.
“We are excited to announce our acquisition of Avista, which further rounds out our small molecule service offering by adding a full complement of early stage development capabilities for both API and finished dosage form as well as comprehensive analytical testing services,” said Steve Klosk, president and CEO of Cambrex, in a statement. “The addition of Avista further underscores our commitment to providing the broadest possible range of world class services to our global customer base.”