[ad_2]
WALTHAM, Mass., Sept. 9, 2022 /PRNewswire/ — Snapdragon Chemistry today announced that the previously announced acquisition by Asymchem will not proceed. Snapdragon and Asymchem were unable to agree to mitigation terms that would satisfy the U.S. Treasury’s Committee on Foreign Investment in the United States (CFIUS).
“We are disappointed this deal was unable to be completed,” said Snapdragon President and CEO Matthew Bio. “The goal of the deal was to expand domestic manufacturing capacity and be able to deliver a full range of drug development services to our clients. We remain committed to this goal. We have long enjoyed a productive relationship with Asymchem on behalf of our clients. We look forward to continuing to collaborate on current and future client projects.”
The news comes at a time of substantial growth for Snapdragon. Snapdragon recently commissioned a new, 51,000 square foot R&D and GMP manufacturing facility.
“These continued investments in facilities and advanced manufacturing technology enable an accelerated path to clinic for our clients,” said Bio. “We have an outstanding team, best-in-class technology, and a growing, loyal customer base. Despite the change in plan, I remain excited about our future.”
Snapdragon Chemistry is a chemical technology firm providing services to the pharmaceutical, biotechnology, and fine chemical industries. Snapdragon’s headquarters, R&D, and manufacturing facilities are in Waltham, MA.
Contact: David Tanklefsky
dtanklefsky@thecastlegrp.com
617.337.9515
SOURCE Snapdragon Chemistry
Source link
[ad_2]
The content is by PR Newswire. Headlines of Today Media is not responsible for the content provided or any links related to this content. Headlines of Today Media is not responsible for the correctness, topicality or the quality of the content.
[ad_2]
[ad_1] Nørresundby, 26 April 2024Announcement no. 23/2024 The Board of Directors of RTX has, cf. company announcement no. 20/2023 dated…
[ad_1] Gyroscope Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033 The Business Research Company's Gyroscope Global…
[ad_1] ODISHA, India, and LOS ANGELES, Calif., April 25, 2024 (SEND2PRESS NEWSWIRE) — In the 1880s, to call attention to…
In support of Hong Kong's new mega tourism and commerce drive, Alipay+ now enables users of 14 leading overseas mobile…
[ad_2] TOKYO, April 26, 2024 /PRNewswire/ -- KLab Inc. announced that its hit 3D action game Bleach: Brave Souls has…
[ad_1] CALGARY, Alberta, April 24, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of TransAlta Corporation (TSX: TA) (NYSE: TAC)…