Erytech Pharma SA (NASDAQ: ERYP) and Catalent Inc (NYSE: CTLT) recently executed an agreement to purchase Erytech’s manufacturing plant located in New Jersey for $44.5 million. The Catalent management will hire the company’s employees in the facility.
Catalent will distribute and develop products in the U.S
Other than the acquisition, the companies will execute an agreement in which Catalent will develop and distribute its partner’s top product to its U.S. consumers. It will also provide its experiences in providing huge scales of effective treatments and medicinal products, considering the relevant authorities and approvals.
The facility approximately measures 30,900 sq. ft. with the ability to enlarge and provide adequate space for other forms of treatments and therapy procedures. Both companies consented to execute a long-term agreement that enforces the mandate of distributing eryaspase to consumers.
Erytech will maintain some of its facilities
The agreement stipulates various roles and obligations that the parties will bear while executing the agreement. Erytech should prepare warrants and any agreements regarding the agreed products. Catalent agreed to let Erytech maintain its facilities in other locations, including France. Moreover, Catalent will acquire to enlarge the acquired facility to gain room and resources to maintain the latter’s employees.
The company is a progressive company that leads the biotechnology and pharmaceutical industries. Catalent provides products that entail satisfaction for third parties, its consumers, and partners. It also provides the distribution of medicinal drugs to affected patients and medical physicians.
Manja Boerman, the founder of Catalent Cell and Gene therapy, stated that the site already possesses talented and skilled employees, thus entailing that the partners can deal with the demanding market.
Erytech is among the leading companies in the biopharmaceutical field that offers advanced solutions to malignant illnesses, including cancer and orphan illnesses. The company also developed Erycaps, which uses distinct technology enveloping medicinal products in red blood cells.
Gill Beyen, its CEO, issued its former employees with gratitude for maintaining the facility since it was opened to date. Beyen further stated that Erytech would pull its resources to provide consumers, patients, and physicians with life-changing therapies for malignant illnesses. Erytech is also widening its scope on obtaining investors for its Erycaps platform and other products in its vicinity.
