International Process Plants, a Princeton Junction-based buyer and seller of manufacturing facilities and equipment, announced on Thursday that its client, AGC Biologics has acquired a commercial biopharmaceutical facility in Boulder, Colorado.
The facility, formerly owned by AstraZeneca, will provide AGC Biologics’ additional commercial-scale manufacturing capacity for its biopharma CDMO businesses when it opens in April 2021 — 18-months sooner than a newly-built facility would take.
“IPP acted as the buyer’s exclusive agent for AGC Biologics in their purchase from AstraZeneca,” Ron Gale, President of IPP. “We are glad to be working with AGC Biologics and wish them success for future operations at the site. At the core of our business, we create win-win scenarios for companies looking to exit an asset, companies looking to expand, and communities looking to continue and grow their workforce. We are confident that this outcome is a win for AGC Biologics as the buyer, Boulder and the region’s skilled biopharma workforce, and a win for AstraZeneca as the seller.”