A Swiss company is buying a North Augusta pharmaceutical manufacturer.
CordenPharma recently announced that it has agreed to acquire AmbioPharm Inc., a company in Beech Island, S.C., that produces peptides on a contract basis for prescription-drug companies.
Neither the financial terms of the deal nor a closing date were immediately disclosed.
AmbioPharm is an “active pharmaceutical ingredient contract development and manufacturing organization,” or API CDMO, which is a company frequently outsourced by drug makers to better manage their manufacturing scalability.
Peptides are amino acid chains that comprise proteins, sending messages to other cells to regulate body functions. Peptides used in popular weight-loss drugs Ozempic and Wegovy help suppress appetite and burn fat.
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AmbioPharm moved into the former UCB Bioproducts facility in the North Augusta Industrial Park in 2007, establishing its company headquarters and manufacturing operations initially in a 10,000-square-foot facility.
AmbioPharm also operates facilities in Shanghai, which would give CordenPharma access to China at a critical time for global trade.
“Together, we will be able to offer customers broader technical capabilities, increased global capacity, and a highly reliable peptides platform to support the development and commercialization of peptide-based medicines, delivered through a fully-integrated global facility network,” AmbioPharm CEO Brian Gregg said in a statement. “Importantly, we remain focused on the patients who rely on these medicines.”
This article originally appeared on Augusta Chronicle: Swiss deal gives CordenPharma access to US and China key facilities