Catalent, Inc. (NYSE: CTLT) announced a $315 million deal for MaSTherCell Global, a technology-focused cell and gene therapy contract development and manufacturing organization based in Gosselies, Belgium. It is backed by Great Point Partners, SFPI-FPIM (the Belgian Federal Holdings and Investment Company) and Orgenesis Inc. (NASDAQ: ORGS).
This is the Somerset, New Jersey-based CRO’s fifth deal since 2014, all of them for domestic targets. Its most recent one was announced in April 2019, for Baltimore-based Paragon Bioservices, Inc., a contract research organization, for $1.2 billion.
Founded in 2011, MaSTherCell has a 25,000-square-foot facility in Gosselies, providing clinical services. It is currently building an adjacent, 60,000-square-foot commercial-scale facility, which is scheduled to open in 2021. It also has a 32,000 square foot facility in Houston, Texas. Its experience includes therapies based on chimeric antibody receptor-engineered T cells, T cell receptors, tumor-infiltrating lymphocytes and mesenchymal stem cells.
The acquisition is an all-cash transaction, which Catalent expects to finance with either a partial drawn down of its revolving credit facility or the proceeds from future capital-raising activity. As part these activities, Catalent has obtained $200 million of committed financing, subject to customary conditions, from JPMorgan Chase Bank N.A.