Integrated drug discovery, development and manufacturing organisation, Concept Life Sciences has carved out its Bradford analytical chemistry business to Cormica, the specialists in testing services for medical device and pharmaceutical manufacturers.
Both Concept Life Sciences and Cormica are part of private equity house, Limerston Capital LLP and sit as part of its healthcare portfolio.
The deal will include the transfer of all employees based at the Bradford site to Cormica. They will remain located at the Bradford office and business will continue as normal.
The divestment of the Bradford business represents a strategic move for Concept Life Sciences, allowing the company to sharpen its focus on its core service offerings, spanning from drug discovery to early-stage development pathways.
Mark Hammond, CEO of Cormica, said: “Cormica has an ambitious growth strategy, trained on full service regulated testing across, physical, chemical and microbiology. We know the Bradford business and its team well and the opportunity to strengthen our expertise in analytical chemistry will significantly strengthen our market position and provide an enhanced service to our customers.
“The deal made sense on a variety of levels, and, thanks to our existing relationship, was relatively simple to facilitate. We are now looking forward to integrating the team into Cormica and to identifying the immediate opportunities this will bring.”
Ben Cliff, CEO of Concept Life Sciences, added: “It has been a busy year for the business, and we have had the much-needed chance to review our operations and our longer-term strategy which will help us to realise the company’s full potential.
“Bradford has been an important part of our story so far however its offer aligns much more closely with Cormica which has a shared customer base and audiences. This deal will allow us to concentrate on our core service lines, working with our highly skilled team to drive our work in key markets.”