Biotage has entered into an agreement to acquire Astrea Bioseparations, a high-growth chromatography solutions provider from Gamma Biosciences, a global life sciences platform formed by KKR to address the advanced therapy market with best-in-class bioprocessing solutions. The enterprise value for Astrea is approximately MUSD 190, subject to any closing adjustments and potential milestone-based payments*.

Astrea supports drug developers and manufacturers to bring high-purity biopharmaceuticals and advanced therapeutics to the market globally. Astrea supplies chromatography resins, adsorbents, and columns as well as nanofiber-based purification technologies for biomanufacturing. Astrea is a global company with facilities in Europe, US, and Canada.

Strategically, the acquisition extends Biotage’s chromatography franchise into the higher-growth and larger bioprocessing segment, while also increasing exposure to biologics and advanced therapeutic customers. Importantly, Astrea strengthens Biotage’s financial profile through its attractive organic growth rate, higher gross margins, and significant exposure to recurring consumables-based revenues. In addition, the acquisition brings a rich, near-term pipeline of new product launches across chromatography resins, nanofiber-based membranes, and columns.

Tomas Blomquist, CEO and President at Biotage, said: “We are proud to welcome the Astrea Bioseparations team to Biotage. The acquisition represents an excellent strategic fit for Biotage, and it will add to us a high-growth company with a talented global team with decades of experience. It also scales our Biologics and Advanced Therapeutics business significantly, keeping us well-positioned for the future.”

Torben Jörgensen, Chairman of the Board at Biotage, added: “Our goal has been to grow our offering in the biologics and novel therapeutics space, as this is where we see major advancements taking place. With Astrea becoming part of Biotage, we have taken a huge leap in fulfilling that vision.”

Kieran Murphy, Chairman of the Board of Gamma, said: “I think this is a terrific combination. I’m proud of what we have achieved at Astrea, and I am excited about the huge potential of the integrated business, building on the established reputation of Biotage as a leading player in chromatography and purification. I look forward to working with the board and management to help achieve Biotage’s long-term vision.”

Kugan Sathiyanandarajah, Managing Director at KKR, Head of KKR's Health Care Strategic Growth business in Europe, and one of the founders of Gamma, said: “We have been following Biotage for a number of years as part of our thematic focus on bioprocessing, and we are confident that Astrea has found a good home. We look forward to working with Biotage’s board and management as the largest shareholder and are committed to creating a leading global chromatography platform.”