In an enormous win for South Australia’s biotech industry, Bridgewest Australia have announced their acquisition of Pfizer’s biologics manufacturing facility in Adelaide, retaining existing staff and expanding to become Bridgewest Australia’s Asia Pacific Centre of Excellence.
Bridgewest Australia is a portfolio company of the Bridgewest Group, a closely held investment company with significant assets under management in hi-tech and wireless technology, biotech and pharmaceuticals, among other areas.
The acquisition of the facility will act as a booster for the biotech industry, bringing to town a contract service provider who can develop and make new pharmaceutical products, including vaccines.
Bridgewest Australia’s established experience as a multi-product Contract Development and Manufacturing Organisation (CDMO), Bridgewest Australia will leverage this to further develop and expand.
Hospira Adelaide, an affiliate of Pfizer, will remain in place to operate the facility under a leaseback arrangement from Bridgewest Australia Real Estate, until the second half of 2021, when Bridgewest will take over full operational responsibility for the facility and staff.
President and CEO of Bridgewest Australia Biotech, Ian Wisenberg, said the company is thrilled with their first acquisition in Australia.
“The site has all the trappings to be a significant player in support of the development and manufacture of therapeutics for our clients around the world,” Mr Wisenberg said.
“Our team is world-class, and we are very excited to have the opportunity to retain such a capable and experienced group of individuals.
“With investment from Bridgewest Group, we will be able to expand our capabilities and offering to become a force both locally and abroad.
“We will also look for additional merger and acquisition opportunities to achieve these goals, as well as seek to attract and retain the very best talent in the market.”
For more information on Bridgewest Group, visit: http://bridgewestgroup.com/