University spin-out acquired by Sterling Pharma Solutions
Sterling Pharma Solutions has announced that it has completed the acquisition of Newcastle University spin-out company, NewChem Technologies.
13 October 2023
Global contract development and manufacturing organisation, Sterling Pharma Solutions, has announced that it has completed the acquisition of Newcastle University spin-out NewChem Technologies, a contract services provider focused on organic chemistry and supplying customers across a range of industries from pharmaceuticals, diagnostics and biotechnology to veterinary science and chemicals.
Founded in 2002, as a spin-out from the School of Chemistry, the NewChem business adds further scientific resource and expertise to Sterling’s ability to tackle complex process chemistry challenges, finding ways to synthesise customers’ molecules while helping them to establish the most suitable route to take forward into development and scale up.
Financial details of the transaction have not been disclosed, but the deal includes all of NewChem’s assets and employees. Founders of NewChem, Dr. Bob Tyson and Prof. Bernard Golding, will continue in their roles as Site Head and Science Director, respectively.
NewChem’s laboratory facilities are located within the Biosphere, a fit-for-purpose laboratory and office building located within the Newcastle Helix site dedicated to life science innovation, research, development, and commercialisation. The lab will work synergistically with Sterling’s facility in Cary, North Carolina, which operates as an early-phase development centre.
“Over the last three years, Sterling has grown significantly, both organically and through a global strategy of acquisitions, and this latest deal marks the next step that will help us achieve our aim of becoming the preferred partner and provider of small molecule services to the pharmaceutical industry,” said Kevin Cook, Chief Executive Officer at Sterling.
“The expertise and experience within the well-respected and talented NewChem team will provide the business with additional capacity to solve complex chemistry challenges. NewChem’s connections with academia is closely aligned with Sterling’s Technology and Innovation Programme, which sees us work with a number of leading global academic institutions to bring the latest technologies and innovations to our customers.”
Sterling’s global network also includes its UK headquarters and manufacturing site in Cramlington, and its recently GMP-licensed dedicated bioconjugation facility in Deeside, as well as a 111-acre site in Ringaskiddy, Ireland, and its two US facilities, in Cary, and Germantown, Wisconsin.
Adapted with thanks to Sterling Pharma Solutions