Ajinomoto agrees to acquire Althea Technologies for $175m

Shaun Weston6 Mar 2013 (Updated 18 Mar 2014)

Ajinomoto Co has executed a merger agreement to acquire all of the capital stock of Althea Technologies for approximately US$175m.

Through this acquisition, Ajinomoto aims to strengthen its business foundation and expand in the rapidly growing advanced biomedical field.

According to an official press release, the company 'aspires to achieve revenue of JPY 30bn by 2020'.

Althea, founded in 1998 in San Diego in the US, is a fully integrated contract development and manufacturing organisation providing fill & finish, biologics manufacturing, analytical development, and stability testing services for biopharmaceutical companies.