Ajinomoto To Acquire Althea Technologies For $175 Million

TOKYOAjinomoto Co., Inc., has executed a merger agreement to acquire all of the capital stock of San Diego-based Althea Technologies, Inc., a leading biopharmaceutical contract development and manufacturing organization, for approximately $175 million. The transaction will strengthen Ajinomotos business foundation and expand in the rapidly growing advanced biomedical field.

Althea is a fully integrated contract development and manufacturing organization providing fill and finish, biologics manufacturing, analytical development, and stability testing services for biopharmaceutical companies. Althea possesses sophisticated technology, rigorous quality control, expertise for each manufacturing process required for biopharmaceuticals, and established relationships with its biopharmaceutical customer base.

Ajinomoto Co., a market leader in amino acids for 100 years, developed unique biotech capabilities, and has recently been promoting its own contract process development business for biopharmaceuticals (Corynex®). Ajinomoto Co. aims to expand the business for biopharmaceutical development and manufacturing in the markets of North America, as well as Asia and Japan and strengthen the Ajinomoto Group's advanced biomedical business by combining its unique biotechnology with Althea's sophisticated technology, experienced personnel and expertise in cGMP manufacturing and development.

Closing is expected to occur in April 2013, at which point Althea will become a fully consolidated subsidiary of Ajinomoto Co.