Capsugel Nabs Bend Research

Capsugel said today it will acquire Bend Research and integrate the company into its dosage form solutions (DFS) business unit. The price and other terms were not disclosed.

Capsugel said the acquisition will strengthen its Capsugel DFS unit's capabilities for enhancing drug bioavailability by giving it access to technologies designed to address formulation challenges for oral drug delivery. The deal also brings Capsugel a full range of modified and targeted release solutions from which to develop new products, the company added.

"We have been impressed by Bend Research's people, achievements, and technology for some time and are delighted to combine our two companies. Capsugel's vision of being a leading provider of innovative dosage forms and solutions to its healthcare customers is significantly advanced by this transaction," Guido Driesen, Capsugel's president and CEO, said in a statement.

He added that the purchase of Bend Research highlighted Capsugel's commitment to investment and strategic growth in the two years since Pfizer sold off what had been one of its units to KKR for about $2.4 billion.

The deal is subject to customary closing conditions including approval from regulatory authorities, and is expected to occur within the next 30 days, Capsugel said.

Bend Research has developed technologies and capabilities designed to support development of new compounds with delivery and development challenges, including solutions for modified release, inhalation delivery, and biotherapeutic processing and formulation.

The company has spent 17 years developing its spray-dried dispersion (SDD) formulation technology, which is intended to improve compounds that have poor solubility during early development. More than 700 compounds have been formulated as SDDs, according to the company's website, of which more than 65 have advanced into clinical stages. SDDs are obtained by dissolving drug and polymer in an organic solvent, then spray-drying the solution under conditions chosen so that the solvent quickly evaporates from the droplets, allowing insufficient time for phase separation or crystallization.

Bend Research is named for its home base of Bend, OR, and has grown to 250 employees. Capsugel, which is headquartered in Morristown, NJ, employs 2,900 people worldwide at 12 manufacturing and R&D facilities across three continents.

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