Successful transaction: Adragos Pharma has officially taken over Clinigen's development unit, Lamda Laboratories near Athens, Greece

USA - English

• USA - English

• Adragos on a growth path: Three locations in Europe and five globally
• Acquisition strengthens Adragos' end-to-end integrated pharmaceutical product development service offering
• Agreement on further product development activities for Clinigen

MUNICH, LONDON and ATHENS, Greece, April 3, 2023 /PRNewswire/ -- Munich-based pharmaceutical contract development organization (CDMO) Adragos Pharma GmbH successfully completed the acquisition of Lamda Laboratories S.A. in Athens. With the transaction, Adragos Pharma now operates three sites in Europe and five globally. The acquisition of Lamda Laboratories significantly expands Adragos' pharmaceutical product development, regulatory affairs, and supply chain management services for its global pharmaceutical customers.

In addition to serving as Clinigen's sole development center, Lamda has earned a well-deserved reputation as a highly reliable contract development organization (CDO) for third-party customers. Lamda will continue to provide services for Clinigen.

The Athens site, just 15 minutes drive from the Athens international airport, is equipped with state-of-the-art equipment, which also allows the handling of highly potent pharmaceuticals, as well as established quality systems and a proven track record of delivering complex developments to customers on time. The official handover of the facility took place today in the presence of the workforce, which remains at the site.

Dr. Andreas Raabe, CEO of Adragos Pharma: "We are pleased to have carried out this acquisition. Lamda is of great importance to us because it extends our value chain coverage from pure Manufacturing to Development, allowing us to address a new customer group. At the same time, we can offer existing Lamda customers production capacity within the Adragos Group and existing Adragos Manufacturing customers a broader service offering."

The exact terms of the transaction will not be disclosed. Truist Securities acted as buy-side advisor to Adragos Pharma GmbH.

About Adragos
Adragos Pharma is a globally operating CDMO with headquarters in Munich, Germany. Its declared goal is to expand its existing production network through acquisitions in Europe, North America, and Japan to attain a globally leading position within the next few years and set new standards in customer service and data centricity. In its buy-and-build growth strategy, Adragos Pharma is supported by FSN Capital, a leading Northern European private equity firm, and Prange Group, a diversified leading German family office. Adragos Pharma currently operates four production sites in France, Germany, and Japan.www.adragos-pharma.com

About Clinigen
Clinigen is a global, specialist pharmaceutical services company focused on providing ethical access to medicines. Its mission is to deliver the right medicine to the right patient at the right time. The Group supports pharmaceutical and biotech companies across the medical product lifecycle, from clinical through to commercial and operates from sites in North America, Europe, Africa and the Asia Pacific. Clinigen has more than 1,200 employees across five continents in 15 countries, and provides access in more than 120 countries every year. For more information on Clinigen, please visit: www.clinigengroup.com

Press contact Adragos Pharma
[email protected]
+49 162 1300986