This midwestern CDMO just picked up 3 acquisitions in less than a week
A relatively quiet Minneapolis-based CDMO is making waves, announcing its third acquisition in just one week.
Pace has acquired Velesco Pharmaceuticals Services, which will add to its liquid, semi-solid and oral solid dose manufacturing, the company said. The CDMO has also brought on BC Laboratories out of California and ProScience Analytical Services
The Velesco acquisition allows Pace to broaden its drug delivery options, and tailor them for clients’ modules, dose range and drug delivery route. With the acquisition, Pace will get Velesco’s clinical trial manufacturing capacity, which includes specialized, small-scale customized experiments, softgel capsule, suspension and non-sterile liquid drug support and expertise in non-clinical toxicology studies.
“Pace scientists and professionals provide expertise and support to clients throughout their drug development timeline,” Pace CEO Eric Roman said in a statement. “Adding Velesco to our portfolio is representative of our commitment to supporting customers across the drug delivery spectrum.”
Pace is a part of the Aurora Capital Partners portfolio. It offers analytical testing to the pharma, biopharma and gene therapy manufacturing industries.
Velesco’s CEO David Barnes will move to the role of VP of scientific affairs, while COO Gerry Cox will take over as the VP of commercial development. Velesco’s two sites in Wixom, MI will switch their branding to Pace. The company has locations in Boston, St. Paul, MN, Philadelphia, Salem, NH and Puerto Rico.
“Dave Barnes and Gerry Cox have much to offer to the Pace team, and we are excited to have them continue on in key roles,” Greg Kupp, president of Pace Analytical Life Sciences, said in a press release. “The reputation of the Velesco team, their strong history and flexible response to client demand, make this a great cultural fit while adding tremendous value to our clients.”
ProScience is a Woburn, MA-based provider of environmental analytical services, that tests air, water, soil, sediment, sludge and paint, among other things. Whitman said in a press release that the acquisition will allow Pace to up its asbestos testing business, which has been in high demand lately.
BC Labs also provides environmental analytical services, but for the western part of the country.
“California has been a leader in the charge for mandated testing for contaminants and hazardous materials – and in providing greater transparency for consumers,” Greg Whitman, president of Pace Analytical Environmental, said. “By expanding our existing footprint in California, we have both the capacity and capabilities to meet this growing demand.”