Groupe Novasep to Acquire PharmaChem Technologies (Grand Bahama) Ltd

19/09/07 Groupe Novasep announced that the company is finalizing discussions to acquire Bahamas-based PharmaChem Technologies (Grand Bahama) Ltd for an undisclosed amount.

The combination of Novasep and PharmaChem responds to their shared vision of becoming the leading global supplier for the Life Sciences industries, built upon unique synergies between these technology-driven companies.

Customers worldwide will now benefit from Novasep's top-notch R&D capabilities and innovative technologies along with PharmaChem's ample manufacturing capacity to produce smart APIs and intermediates.

"This acquisition reinforces our position of leadership as a global supplier of active molecules for the Life Sciences, produced in economical conditions as to comply with health, environment, and quality standards of the highest levels" commented Roger-Marc Nicoud, President of Group Novasep, and added "Groupe Novasep intends to continue developing PharmaChem's activities and to build synergies with our Synthesis and Process businesses".

Pietro Stefanutti, founder and President of PharmaChem will assume, in addition to his current responsibilities, the role of Chairman of the Board of the combined company while Mr. Nicoud will remain as President and Chief Executive Officer of Groupe Novasep. Mr. Stefanutti stated "We are very pleased to be joining Novasep in their quest to become the first-choice partner of the Life Sciences industries. Our commitment is to contribute and improve the health of the world's population".

PharmaChem's facility, based in Freeport, Bahamas is a cGMP compliant and FDA inspected plant with strong growth potential. This modern facility currently manufactures the leading antiretroviral API for a major Nasdaq-100 company committed to the treatment of HIV/AIDS worldwide.

Once the transaction is complete both companies will continue to operate under their current entity names and management structure.