Thermo Fisher Scientific announced that it plans to open a cell therapy development and manufacturing collaboration center in Princeton as part of a $475 million investment in its biopharma capabilities.
Thermo Fisher Scientific first grew its contract development and manufacturing organization business firstly through its $7.2 billion acquisition of Patheon back in 2017 and its $1.7 billion Brammer Bio investment in 2019.
President of Commercial Operations at Thermo Fisher Scientific said that this new center is designed to accelerate its cell therapy platforms. He added the concept is to build end-to-end cell manufacture workload solutions that can drive simplified processes with higher degrees of automaton while significantly reducing costs and improving the robustness and reliability of cell therapy GMP manufacture.
The new center is part of its plans to invest more than $475 million in new biopharma capabilities and capacity in 2020.
President of Thermo Fisher Scientific said that they have invested strategically to ensure that the supply-demand is met at all times.
Chief Financial Officer, Stephen Williamson said that they expect net capital expenditures in the range of $1 billion to $1.1 billion as they invest more in capacity and capability expansions in its services and bioproduction businesses.