Sever Pharma Solutions (SPS), has entered into a definitive agreement to acquire the assets of Foster Delivery Science (FDS) located in Putnam, Connecticut.
 
The acquisition of FDS, which is expected to be completed in November, will significantly expand SPS’s ability to leverage its expertise in the development of high-potent pharmaceutical products by incorporating the Long-Acting Implantable delivery system capabilities of FDS.
 
The capabilities of the FDS facility and staff will complement those of SPS’s operations in Sweden and the Netherlands. Further development of the FDS facilities is expected to result in a commercially licensed operation within the next few years.
 
“At Sever Pharma Solutions, we are very pleased to welcome FDS into our group and recognize the expertise in extrusion based implantable drug delivery that will complement our capabilities very well. This will provide clients the opportunity to take advantage of end-to-end services in extrusion,” says Kenneth Stokholm, CEO of Sever Pharma Solutions.
 
“SPS has turned out to be the perfect acquirer for FDS. We share the same vision and philosophies regarding technological leadership, customer service excellence, quality, safety, and putting people first. SPS plans to make significant investments in FDS operations and its Putnam, Connecticut facilities. I am excited about the future prospect for this business,” says Larry Acquarulo CEO of Foster.
 
For this transaction, PharmaBioSource Inc. served as the exclusive advisors to SPS and FDS was advised by Covington Associates LLC.