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Raybow Expands CDMO Business to U.S. with Acquisition of PharmAgra Labs
Raybow Pharmaceutical, a global pharmaceutical chemistry services provider, has acquired US-based PharmAgra Labs.
Raybow is a global provider of outsourced pharmaceutical process development and manufacturing services. Headquartered in Taizhou, China, the company employs 1,400+ worldwide. PharmAgra is a custom chemical research and development company located in Brevard, North Carolina with current services that include custom synthesis, process development and optimization and analytical services.
The PharmAgra acquisition expands the global footprint of Raybow and gives it close proximity to the company’s growing US customer base. The Brevard facility will become the headquarters and R&D center for North American operations. It will be supported by sales and marketing offices in Los Angeles, CA, Princeton, NJ and Copenhagen, Denmark.
Raybow CEO Mr. Bin Wang commented, “We are excited to welcome the PharmAgra team since this is an excellent fit for both companies. Raybow’s European and US clients will appreciate the option for contract services within the U.S. The PharmAgra team has a proven track record established during their 20 years of custom synthesis services. Coupled with existing capacity ranging from grams to multi tons, we now have the flexibility to accommodate all of our clients’ phase-appropriate outsourcing activities on multiple continents.”
Raybow is planning an expansion project at the PharmAgra site, adding additional capacity and personnel in the Brevard area.
Peter Newsome, co-founder of PharmAgra Labs observed, “Our future with Raybow fits perfectly with our long-term goal of providing increased chemistry capabilities for our clients in all industries.”
Roger Frisbee, co-founder of PharmAgra Labs added, “This acquisition will provide career growth opportunities for our employees and support economic development efforts in our community.”
Raybow was founded in 2008 to provide expert process development and manufacturing for biotech and large pharma clients. Raybow can accommodate a variety of chemistries, including high potency, and offers high quality, efficient and cost-effective services designed to accelerate the drug development process. Raybow manufactures advanced intermediates, regulatory starting materials and active pharmaceutical ingredients in a US FDA inspected facility in Taizhou, China. Client projects cover all phases of development from pre-clinical to commercial.
About PharmAgra Labs
Brevard, NC based PharmAgra Labs was founded in 1998. PharmAgra is an agile, results-oriented contract chemistry organization which provides comprehensive services including cGMP API manufacturing, custom synthesis, process development and analytical services. Capabilities include complex chemistry scale up in electronics and pharmaceuticals, preparation of pharmaceutical intermediates, RSM’s and API’s. PharmAgra is licensed to handle controlled substances (DEA Schedule I to V).
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