Thermo Fisher Scientific Inc. [NYSE: TMO] disclosed that it has finalized the acquisition of PeproTech on December 30, 2021, for a total cash buying price of around $1.85 billion. PeproTech Inc. has earned a reputation as a leading developer and producer of recombinant proteins. It has its headquarter in Cranbury, New Jersey.
Thermo Fisher Scientific believed that PeproTech will be an outstanding strategic fit within its biosciences business. This acquisition will allow the company to serve its pharma and biotech customers even better by adding new capabilities to its existing offering. Furthermore, this complementary deal, when combined with TMO’s patented bioprocessing and cell culture capabilities, prepares it to engage with its clients to accelerate the growth of the rapidly developing industry for cell and gene therapies.
Moreover, the company will be able to quickly build the PeproTech business and achieve attractive financial outcomes by utilizing its commercial reach, all while fulfilling its mission to empower its clients to make the world better, cleaner, and safer. In addition, as per the deal, PeproTech will become part of the biosciences business within Thermo Fisher and will be merged into the Life Sciences Solutions Segment.
On the other hand, PeproTech believed that it is happy to join TMO as it has great competitive success and a common dedication to developing novel therapeutics that improve patient outcomes. PeproTech’s reputation for unrivaled product consistency and quality is inextricably linked to that of Thermo Fisher Scientific, and it is looking ahead to expand on its achievements as part of the world leader in science service.