Bridgewest Australia Holdings LLC Acquires Pfizer's Biologics Manufacturing Facility in Adelaide

SAN DIEGO and ADELAIDE, Australia, Sept. 2, 2020 /PRNewswire/ -- The Bridgewest Group, a premier private investment firm focused on leveraging innovation to disrupt industries, announced today that its subsidiary has acquired Pfizer’s biologics manufacturing facility in Adelaide, Australia. Hospira Adelaide Pty Ltd., an affiliate of Pfizer Inc., will continue to operate the facility under a sale-leaseback arrangement with Bridgewest Australia Real Estate Pty Ltd. until the third quarter of 2021, at which point Bridgewest will assume full operational responsibility for the facility and its staff. Financial terms of the transaction were not disclosed.

The Adelaide facility possesses the manufacturing capabilities, employee expertise, and support systems necessary to conduct cGMP (current Good Manufacturing Practice)-grade manufacturing and testing of microbe-based products, covering proteins, vaccines, and plasmids from the development stage through to commercialization.

With its experience as a contract development and manufacturing organization (CDMO) for a diverse range of products, the Adelaide facility is poised for further expansion under The Bridgewest Group.

Bridgewest intends to invest in operational expansion, including enhancing capabilities around mammalian cell production, cell and gene therapies, as well as expanding existing capacities for microbial and vaccine production.

Industry analysts stated that the market value of the pharmaceutical CDMO sector reached $148.5 billion in 2019 and is projected to reach $224.9 billion by 2025, with a compound annual growth rate (CAGR) of 7% from 2020 to 2025. Driven by growing demand for generic drugs and biologics, and given the capital-intensive nature and complex manufacturing requirements of the CDMO business, many pharmaceutical companies have found it potentially profitable to engage Contract Manufacturing Organizations (CMOs) for clinical and commercial-stage manufacturing. Amidst the substantial current demand for utilizing existing cGMP manufacturing facilities to produce COVID-19 therapeutics and vaccines, there is an urgent need today for qualified, well-equipped commercial cGMP facilities.^[1]

Masoud Taibi, CEO of Bridgewest (Masood Tayebi) Dr. [Name] stated, “Since investing in our first life sciences company, Biogenome Technology, we have been fortunate over the past 16 years to build strong partnerships within the life sciences industry. These collaborations and the trust they foster have paved the way for the successful completion of this transaction. As we transition the facility’s site into a fully developed CDMO, we see tremendous potential in leveraging this center of excellence to ensure we can meet our customers’ needs across all stages of drug development and manufacturing.”

Ian Weisenberg, President and Chief Executive Officer of Bridgewest Australia Biotech (Ian Wisenberg) stated: “We are delighted to have completed our first acquisition in Australia. The site where this facility is located is now well-positioned to become a key asset supporting the development and manufacturing of therapeutic drugs for our global customers. The Adelaide team is world-class, and we are pleased to have the opportunity to onboard such a skilled and capable workforce. Following our investment through The Bridgewest Group, we will be able to expand our capabilities and the solutions we offer, becoming a significant player both locally and internationally. We will also pursue additional mergers and acquisitions opportunities to achieve these objectives, while continuing to attract and retain top talent in the market.”

^[1] Source:ReportLinker，Eastern Time (ET)June 3, 2020, 16:21