Cambrex is acquiring the Irish business to add to its portfolio of outsourced pharma services and expand in Europe.
Q1 Scientific, a Waterford-based company that provides stability storage services for the life sciences sector, has been acquired.
Global contract development and manufacturing organisation Cambrex snapped up the Irish business for an undisclosed sum.
Founded in 2013 by serial entrepreneur Louise Grubb, Q1 Scientific offers environmentally controlled stability storage services for pharma, medical device and life sciences companies from its 20,000 sq ft facility in Waterford.
This site is designed to meet the specific storage requirements of different pharma projects, with temperatures from minus 80 degrees Celsius up to 50 degrees Celsius, to save companies from building and monitoring their own storage chambers.
Q1 Scientific also provides sample management and transport services.
US-headquartered Cambrex said acquiring the Irish business would add to its growing portfolio of outsourced pharma services and help it expand in Europe.
Cambrex already provides drug substance, product and analytical services, as well as a variety of storage and testing capabilities.
“Stability storage and testing is a critical component of drug development and commercialisation of new therapies,” said Tom Loewald, CEO of Cambrex.
“This acquisition is a natural extension of our current offerings that will broaden and increase our expertise in this critical area, as well as our footprint in the European market.”
Q1 Scientific has been growing its business in recent years and CEO Stephen Delaney said the new deal would enable further expansion.
“We’re pleased to join Cambrex as we continue to provide leading stability storage services to our current customers,” he added.
“With Cambrex’s scientific expertise and scale, we’ll be able to accelerate our growth and offer an integrated suite of analytical services, providing a full range of market-leading solutions for our customers.”
Q1 Scientific founder Grubb also established animal health businesses NutriScience and TriviumVet.
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