Ajinomoto Co., Inc. Completes Acquisition of Althea Technologies, Inc.
SAN DIEGO, April 4, 2013 /PRNewswire/ -- Ajinomoto Co., Inc. ("Ajinomoto Co."; TYO: 2802) and Althea Technologies, Inc. ("Althea Technologies"), have completed the previously announced acquisition of Althea Technologies, a leading provider of biopharmaceutical development and manufacturing services.
Ajinomoto acquired all the capital stock of Althea at closing for a purchase price of approximately $175 million dollars (USD). Althea will become a fully consolidated subsidiary of Ajinomoto Co., Inc. operating under the company name Ajinomoto Althea, Inc.
About Ajinomoto Co.
Ajinomoto Co. is a global manufacturer of high-quality seasonings, processed foods, beverages, amino acids, pharmaceuticals and specialty chemicals. For many decades Ajinomoto Co. has contributed to food culture and human health through wide-ranging application of amino acid technologies. Today, the company is becoming increasingly involved with solutions for improved food resources, human health and global sustainability. Founded in 1909 and now operating in 26 countries, Ajinomoto Co. had net sales of JYP 1,197.3 billion (USD 15.1 billion) in fiscal 2011. For more about Ajinomoto Co. (TYO: 2802), visit www.ajinomoto.com.
About Althea Technologies
Althea Technologies is a fully integrated, contract development and manufacturing organization located in San Diego, CA providing clinical and commercial product development services. Althea Technologies offers cGMP drug product filling in both vials and syringes, and production of microbial-derived recombinant proteins and plasmid DNA. In conjunction with these manufacturing operations, Althea Technologies offers comprehensive development services including: upstream and downstream process development, analytical development, lyophilization cycle, complex formulation, product release and ICH-compliant stability testing. Althea Technologies' formulation technology platform includes Crystalomics®, a proprietary technology that offers a formulation solution for large molecule products that must be delivered at high concentrations or as sustained release formulations. For more information, visit www.altheatech.com.
SOURCE Ajinomoto Althea, Inc.