Cambrex said that after the transaction, the business will be renamed Cambrex IEP and will remain in Wiesbaden, Germany.
Steven Klosk, president and CEO of Cambrex, said: “In combination with our existing chiral chemistry business, the acquisition of IEP will result in Cambrex being able to offer a broad biocatalysis platform to the pharmaceutical industry.
“We are very excited about the future growth of this business, as IEP has demonstrated the introduction of a ‘green’ biocatalytic step in chemical synthesis that can provide significant benefits resulting in the cost efficient, commercial scale production of enantiomerically pure chemical products and intermediates.
“IEP has assembled, under the leadership of Antje Gupta, a strong group of highly skilled scientists and built a successful business based on its proprietary technology and intellectual property. We are looking forward to working with the IEP team to expand their business development efforts through the existing Cambrex channels to market.”