JSR Corporation (JSR), along with Tokyo-based CMIC Holdings Co. Ltd. (CMIC) and Innovation Network Corporation of Japan (INCJ), announced today that they have agreed to acquire KBI Biopharma, Inc., a biopharmaceutical contract development and manufacturing organization with facilities in Durham and Research Triangle Park, North Carolina and Boulder, Colorado. Following completion of the acquisition, JSR will own the majority interest in KBI within the acquiring group.

With this acquisition, JSR continues to demonstrate its commitment to the life sciences industry, by expanding its bioprocess capabilities and gaining a strong, successful partner.

KBI is a well-established leader in contract development and manufacturing of biopharmaceutical products, with an extensive track record of successful programs for its clients. The acquisition of KBI will allow JSR to facilitate the acceleration of the company’s growth plans, with increased capacity as well as global expansion, including additional customers in Japan and Asia.

“This event is best described as the beginning of a partnership that will enable each company to continue to provide innovation for the bioprocessing development and manufacturing space,” said JSR Corporation President, Mitsunobu Koshiba. “We have been extremely impressed with KBI at the technical, management and customer service levels. We will look to KBI to enhance our bioprocess product development and increase our understanding of the market in general. We expect that KBI’s extensive experience, expertise and technology will help drive our innovation cycle.”

“Through this exciting new partnership, we will leverage the combination of KBI’s core competencies, along with the material science leadership, global presence and financial strength of our new partners,” said KBI President and CEO Joe McMahon. “In addition, with our well-aligned values and common focus on scientific innovation and customer service, we will continue our mission to improve the quality of human life by accelerating our clients’ development of innovative medicines for patients on a global basis.”

In addition to the acquisition of KBI, JSR and CMIC have entered into a joint project to develop design and manufacturing processes and process materials for the next generation of antibody pharmaceuticals. Both companies expect the new relationship with KBI to contribute greatly to the project’s success. INCJ will support this, and other development efforts, through its industry-academia-government network in Japan. The global biopharmaceutical market is forecast to expand to US$2.5 trillion in 2024, and the manufacturing process development and contract manufacturing markets are projected to grow to US$8.3 billion.