Contract drug manufacturer Catalent has agreed to acquire Paragon Bioservices for in $1.2 billion in cash, to help expand its gene-therapy manufacturing capabilities.
Baltimore-based Paragon provides supplies for gene-therapy drugmakers, manufacturing viral vectors that are used to deliver the gene replacements to their targets. The CDMO brings specialized expertise in adeno-associated virus (AAV) vectors, the most commonly used delivery system for gene therapy, as well as unique capabilities in GMP plasmids and lentivirus vectors.
Catalent, which boasted $2.5 billion in sales last year, expects Paragon to have revenue of more than $200 million this year. The transaction is expected to close in the second quarter.
Read the press release