Formosa Laboratories, Inc. announced that it has successfully completed its acquisition of SynChem, Inc., headquartered in the Chicago MSA suburb of Elk Grove Village.
Founded in 1997, SynChem is a chemistry-based contract research organization (CRO) specializing in organic synthesis, process development and medicinal chemistry. Since its inception, SynChem has completed more than 4,500 projects for wide range of customers, including multi-national pharmaceutical companies, biotech companies, drug discovery companies and chemical and agrochemical companies.
Founded in 1995, Formosa Laboratoriesap is a leading active pharmaceutical ingredients (API) supplier and contract development and manufacturing organization (CDMO) headquartered in Taiwan.
SynChem will now operate under the name SynChem-Formosa. As a now wholly-owned subsidiary of Formosa Laboratories, Dr. W. Paul Mar will continue as CEO of SynChem-Formosa, leading the company’s operations and reporting directly to Dr. Cheng, Chairman and President of Formosa. Financial terms of the deal were not disclosed.
Dr. Cheng commented on the acquisition, stating, “This acquisition represents a pivotal advancement in Formosa’s ongoing growth within the CDMO sector. SynChem’s track record of delivering high-quality organic synthesis and process development services to numerous pharmaceutical and biotech firms, especially in areas such as antibody-drug conjugates (ADC) payloads and linkers, positions us well for future growth.”
Dr. Mar added, “Joining the Formosa family marks an exciting new chapter for us. We are enthusiastic about leveraging this merger to become a leading CDMO for small molecule APIs and ADCs in the United States.”
According to data captured in the LevinPro HC database, this acquisition represents the 10th CRO deal of 2024. There were 44 CRO transactions announced during 2023, and 41 announced during 2022.
