NEW YORK (GenomeWeb News) - German-based TheraCode, a wholly owned subsidiary of biotech firm BioNTech, has announced its intentions to buy JPT Peptide Technologies, also based in Germany, for €5 million ($6.8 million) in an all-cash deal.
JPT had been a wholly owned subsidiary of Jerini, which sold the company as part of its strategy to divest non-strategic businesses and focus on its core business, the commercialization of the drug icatibant (Firazyr) for the treatment of hereditary angioedema.
JPT provides peptide-based services as well as high-content peptide arrays, peptide tools, and peptide libraries "for all development phases of novel vaccines," TheraCode said in an announcement, adding that the purchase will enable JPT to accelerate expansion of its services.
"The investment in JPT not only provides us with access to its unique and proprietary portfolio of peptide technologies," said Ugur Sahin, CEO of BioNTech, "it will also accelerate JPT's continued growth, increase its visibility, and further improve its well-recognized services to an international client base."
For TheraCode, the acquisition is part of its long-term strategy to provide "comprehensive technology platforms for drug and biomarker development," said Sahin.