EAST RUTHERFORD, N.J., Jan. 7 /PRNewswire-FirstCall/ -- Cambrex
Karlskoga AB, a subsidiary of Cambrex Corporation (NYSE: CBM), is pleased
to announce it has entered into a purchase agreement for all of the stock
of ProSyntest AS, a privately held active pharmaceutical ingredients
("API") research and development company. ProSyntest employs approximately
twenty five chemists located within the Tallinn Technology Park in Tallinn,
Estonia. ProSyntest, formed in 1990 as a spin off from Tallinn University
of Technology, has strengths in cost effective chemical route selection and
sample generation, rapid scale up of products at kilo lab scale, as well as
chiral and organometallic chemistries.
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"Cambrex Karlskoga has successfully worked with the ProSyntest chemists
for the past fifteen years, and the acquisition of the business is a
natural extension of our long standing relationship. ProSyntest, located in
Eastern Europe, will enable Cambrex to more effectively compete in the high
growth early clinical stage pharmaceutical custom development market and
provide us with a strong pool of talented chemists to advance numerous
proprietary strategic initiatives," commented Steven Klosk, Executive Vice
President & COO of Cambrex Corporation.
The business will be renamed Cambrex Tallinn after completion of the
acquisition. Cambrex intends to add more process and analytical chemists at
the site and continue early API development work in Tallinn for scale up at
Karlskoga and the other Cambrex manufacturing facilities.
About Cambrex
Cambrex provides products and services to accelerate the development
and commercialization of small molecule active pharmaceutical ingredients
("APIs"), advanced intermediates and other products for branded and generic
pharmaceuticals. The Company currently employs approximately 850 people
worldwide. For more information, please visit http://www.cambrex.com.
SOURCE Cambrex Corporation
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Related links:
http://www.cambrex.com
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CONTACT:
Gregory P. Sargen, Vice President & CFO of
Cambrex, +1-201-804-3055, gregory.sargen@cambrex.com
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