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Biotage acquires Astrea Bioseparations

Biotage has entered into an agreement to acquire Astrea Bioseparations, a high-growth chromatography solutions provider from Gamma Biosciences.

The enterprise value for Astrea is approximately 190 million USD, subject to any closing adjustments and potential milestone-based payments, states the company in a press release.

“The acquisition represents an excellent strategic fit for Biotage, and it will add to us a high-growth company with a talented global team with decades of experience. It also scales our Biologics and Advanced Therapeutics business significantly, keeping us well-positioned for the future,” says Tomas Blomquist, CEO and President at Biotage.

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A global company with facilities in Europe, US, and Canada

Gamma Biosciences is a global life sciences platform formed by KKR to address the advanced therapy market with bioprocessing solutions. Astrea supplies chromatography resins, adsorbents, and columns as well as nanofiber-based purification technologies for biomanufacturing. Astrea is a global company with facilities in Europe, US, and Canada.

Strengthens Biotage’s financial profile

Strategically, the acquisition extends Biotage’s chromatography franchise into the higher-growth and larger bioprocessing segment, while also increasing exposure to biologics and advanced therapeutic customers, it states. Astrea strengthens Biotage’s financial profile through its attractive organic growth rate, higher gross margins, and significant exposure to recurring consumables-based revenues. In addition, the acquisition brings a rich, near-term pipeline of new product launches across chromatography resins, nanofiber-based membranes, and columns.

“Our goal has been to grow our offering in the biologics and novel therapeutics space, as this is where we see major advancements taking place. With Astrea becoming part of Biotage, we have taken a huge leap in fulfilling that vision,” says Torben Jörgensen, Chairman of the Board at Biotage.

Photo of Tomas Blomquist: Biotage