Precision Medicine Group Acquires Project Farma
The acquisition significantly expands Precision Medicine Group’s cell and gene therapy expertise.
On Jan. 14, 2021, Precision Medicine Group (PMG) announced that it has acquired Project Farma, a patient-focused bioengineering services firm focused on supporting life science innovators in the manufacturing and scale-up of advanced therapies. The acquisition significantly expands PMG’s expertise in cell and gene therapy.
Through the acquisition, Project Farma will be part of Precision for Medicine, PMG’s research and development services arm. Project Farma has expertise in planning and implementing complex biomanufacturing strategies and facilities for clients, ranging from start-up biotechnology companies to global biopharmaceutical companies and academic medical centers, PMG said in a company press release. Project Farma has led more than a dozen manufacturing facility builds with capital investments greater than $1 billion.
“In today’s highly competitive and scrutinized advanced therapies marketplace, ensuring a safe, scalable, and high-quality manufacturing capability can be the difference between success and failure. Project Farma are the experts at defining and developing the optimal manufacturing strategy and leading implementation of a customized solution. This essential capability is now expanded and leveraged by the comprehensive cell and gene therapy services available through Precision ADVANCE,” said Precision for Medicine’s President, Chad Clark, in the company press release.
“Since 2013, Precision has supported over 70% of [FDA]-approved cell and gene therapies and is now even better positioned to support the hundreds of therapeutic new entrants coming to market. With our acquisition of Project Farma, Precision is the only life-science services company with true end-to-end capabilities in cell and gene therapy,” said Mark Clein, CEO of Precision Medicine Group, in the press release.
Source: Precision Medicine Group
