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|Cambrex Acquires IEP GmbH|
East Rutherford, N.J., March 22, 2010 -- Cambrex Corporation (NYSE: CBM) announced it has acquired IEP GmbH ("IEP"), a privately held company that is a leader in the field of industrial biocatalysis. IEP is located in Wiesbaden, Germany and offers cost effective customized biocatalytic process development and sales of enzymes to the pharmaceutical industry, with the ability to utilize its tool box of over 100 proprietary biocatalytic enzymes. IEP "bioreduction" technologies have been successfully used in numerous commercialized processes.
"In combination with our existing chiral chemistry business, the acquisition of IEP will result in Cambrex being able to offer a broad biocatalysis platform to the pharmaceutical industry. We are very excited about the future growth of this business, as IEP has demonstrated the introduction of a "green" biocatalytic step in chemical synthesis that can provide significant benefits resulting in the cost efficient, commercial scale production of enantiomerically pure chemical products and intermediates. IEP has assembled, under the leadership of Dr. Antje Gupta, a strong group of highly skilled scientists and built a successful business based on its proprietary technology and intellectual property. We are looking forward to working with the IEP team to expand their business development efforts through the existing Cambrex channels to market," commented Steven Klosk, President & CEO of Cambrex Corporation.
The business will be renamed Cambrex IEP and will remain in Wiesbaden, Germany. For more information on IEP, please visit http://www.biocatalysis.com/.
Cambrex provides products and services to accelerate the development and commercialization of small molecule active pharmaceutical ingredients ("APIs"), advanced intermediates and other products for branded and generic pharmaceuticals. The Company currently employs approximately 850 people worldwide. For more information, please visit http://www.cambrex.com/.
Contact: Stephanie LaFiura