Dow acquires Collaborative BioAlliance

The Dow Chemical Co. (Midland, MI) has signed a definitive agreement to purchase the The Collaborative Group's (Stony Brook, NY) Biotechnology Services Division, including all of the assets of Collaborative BioAlliance Inc. (CBA) and Collaborative Smithfield Corp. The acquisition, which is still subject to regulatory and third-party approval, is expected to close by the end of November. Terms of the transaction were not disclosed.

The Collaborative Group has approximately 80 employees in its Biotechnology Services Division, located at its contract development operation in Stony Brook, New York, and at its 55,000-square-foot multi-product cGMP biomanufacturing facility in Smithfield, Rhode Island, which will transfer to Dow upon closing. The group's CBA subsidiary is a contract developer and manufacturer of biopharmaceutical drugs.

When the acquisition is complete, Collaborative's Biotechnology Services Division will be fully integrated into Dow and will become part of the company's Industrial Biotechnology Business. The acquisition allows Dow to provide contract process development and manufacturing services for a range of biopharmaceutical products.

For more information, contact Adrianne Proctor, communications manager of Dow Chemical, at 517-636-5636, or contact James Hayward, president and CEO of the Collaborative Group, at 631-689-0200 or jhayward@collabo.com.

Edited by Jim Pomager
Assistant Editor, Bioresearch Online