Bridgewest Group inks deal with Pfizer to acquire injectable manufacturing plant in Western Australia
MIAMI and PERTH, Australia, Nov. 11, 2022 /PRNewswire/ -- Global private investment firm, Bridgewest Group, recognized for developing innovative companies in life sciences, software, and deep tech, is expanding its portfolio. Today, Bridgewest Group has announced the signing of a definitive agreement to purchase the sterile injectable manufacturing facility of Pfizer (Perth) Pty Ltd, a subsidiary of Pfizer, Inc.
The cGMP manufacturing facility, located in Bentley, a Perth suburb in Western Australia, is a diverse sterile injectable manufacturing facility, approved to supply drug products in over 90 countries globally with approvals secured by regulatory bodies including the FDA, TGA, EU and others. The facility has extensive blow fill seal (BFS) capabilities for producing sterile injectable essential drug products as well as significant capabilities to produce specialty oncology drug products for global distribution. In addition to the operations and facility, Bridgewest Group will also be acquiring a suite of drug products from Pfizer which it will look to aggressively market and expand globally.
In 2020, Bridgewest Group successfully acquired Hospira Adelaide Pty Ltd, a microbial drug substance manufacturer in Adelaide, which it now operates under the name BioCina. BioCina has been operating as a contract development manufacturing organization (CDMO) and has had great success since taking over from Pfizer, growing its employee base in Adelaide by 30% and adding numerous customers from around the world. Since Bridgewest Group's acquisition, BioCina has upgraded the Adelaide site to include pDNA and mRNA manufacturing capabilities.
The Perth operation will be a separate and distinct business from BioCina. "We are confident that the experience and expertise garnered with BioCina will translate to a smooth transition followed by substantial growth, as well as further cement Bridgewest Group's commitment to pharma manufacturing in Australia," said Dr. Masood Tayebi, Co-Founder and Chief Executive Officer of Bridgewest Group.
"We are on a great trajectory to complete the sale with Pfizer. We have very good people working diligently to complete the transaction and to transition the facility, processes, and high caliber staff to Bridgewest Group. We anticipate the sale to close in the next several months and will work diligently to that end," said Adam Gickling, Executive Vice President and Chief Operating Officer, Bridgewest Group. "Post-sale, the facility will continue to supply products to Pfizer under a manufacturing and supply agreement," added Gickling.
Bridgewest Group has an accomplished performance history throughout its private equity portfolio, spanning multiple verticals. In 2005, it expanded its expertise into the life sciences arena with the founding of BioDuro-Sundia, which has grown to become the world's third largest contract research and development manufacturing organization (CRDMO). Bridgewest Group continues to aggressively invest in several areas including drug discovery/development, cell/gene therapy, medical devices, and others. In addition to BioDuro-Sundia and BioCina, BioAtla, BioOra, Bio4t2, Precision Chroma, Nanophage Technologies, BioViros, and Avasa highlight its current life sciences portfolio.
Dr. Masood Tayebi, Co-Founder and Chief Executive Officer of Bridgewest Group said "We are thrilled to add another center of excellence in an area that is so important to the health and well-being of others. The team and systems in Perth are world-class, and the opportunity for growth is huge. Australia has an active and forward-thinking medical science community with outstanding universities, advanced research, and clinical trial capabilities. Further, the Australian government has been extremely proactive in providing incentives to attract pharmaceutical manufacturing investment in the country. All of these factors played a role in our decision to invest in Perth and clearly aligns with our goal to secure pharma manufacturing in Western Australia for the long term. Leveraging our experience and resources, we are confident that we can continue to build upon Australia's reputation as a global leader in pharmaceutical manufacturing."
Bridgewest Group is an innovative and privately held global investment firm with over $3B in private capital. Founded in 1999, the global firm has earned a long-standing reputation for creating and scaling transformational businesses to achieve outsized success. Bridgewest Group leverages its expertise and global eco-community in key sectors where it can have the greatest impact including Biotech, Software, Semiconductor and Artificial Intelligence/Deep Tech. Customized financial investment services and diverse real estate holdings augment equity assets and support portfolio companies as they grow. Bridgewest Group is based in the US, with investments primarily in the US, Europe, China and Australasia.
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SOURCE Bridgewest Group