SK Pharmteco, a division of South Korean conglomerate SK Inc., has acquired a controlling interest in the Center for Breakthrough Medicines.
The Center for Breakthrough Medicines is a King of Prussia, Pennsylvania-based contract development and manufacturing organization (CDMO) specializing in cell and gene therapy.
SK Pharmteco is based in Rancho Cordova, California. The company specializes in the production of active pharmaceutical ingredients, advanced intermediates and cell and gene therapy for the pharmaceutical industry.
SK Inc., the investment arm of SK Group in Seoul, previously invested $350 million in the Center for Breakthrough Medicines in December 2021. The Center for Breakthrough Medicine’s other owners are its management, as well as New York investment firm Deerfield Management and other undisclosed investors.
There are plans for the operations of the Center for Breakthrough Medicines to be integrated with Yposkesi, a French viral vector CDMO SK Pharmteco acquired in March 2021, to establish a global cell and gene therapy business unit. Financial terms of the deal are being kept confidential.
According to data captured in the LevinPro HC database, this transaction marks the 14th CDMO transaction of the year. By comparison, there were 26 CDMO deals reported between January 1, 2022, and September 19, 2022.
