Alpha Biologics acquires CTM Biotech
Drug manufacturer Alpha Biologics has acquired CTM Biotech, a specialist process development company, based in Cambridge.
As a result of the deal CTM’s founders, Jon Mowles and Rod Smith, have both joined the acquiring company as commercial director and director of process development, respectively.
The all-cash deal was sealed at the start of the year and as a result of the acquisition, Alpha will move to CTM’s Babraham Research Campus near Cambridge.
The CTM deal is the second major development to be announced by Alpha Biologics in recent months.
Last November, CTM raised $3m in funds from Pequot Capital Management bringing the total money raised by the company ove to $6m.
Simon Saxby, chief executive at Alpha Biologics, said: “The significance of this deal cannot be underestimated.
“The ability to offer clients process development and scale up services has been our main strategic aim for some time now and fits perfectly with our existing focus on GMP manufacturing.
“I am delighted that we have secured such an experienced, Cambridge-based team.
“They have strengthened our position in the market considerably and with their relevant industry knowledge, are set to make an immediate impact.”
David Gough, ex-chair and co-founding director of CTM, said: “I believe the acquisition to be an exciting and natural development for CTM by connecting process development to GMP manufacturing.”
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