Formosa Laboratories Completes the Acquisition of Synchem to Expand North American CDMO Footprint

TAOYUAN, June 3, 2024 /PRNewswire/ -- Formosa Laboratories, Inc., a leading API supplier and CDMO headquartered in Taiwan, has successfully completed its acquisition of SynChem, Inc., a contract research laboratory located in suburban Chicago. SynChem will now operate under the new name SynChem-Formosa.

As a now wholly-owned subsidiary of Formosa Laboratories, Dr. W. Paul Mar will continue as CEO of SynChem-Formosa, leading the company's operations and reporting directly to Dr. Cheng, Chairman and President of Formosa.

Dr. Cheng commented on the acquisition, stating, "This acquisition represents a pivotal advancement in Formosa's ongoing growth within the CDMO sector. SynChem's track record of delivering high-quality organic synthesis and process development services to numerous pharmaceutical and biotech firms, especially in areas such as ADC payloads and linkers, positions us well for future growth. Backed by Formosa's extensive capabilities in scale-up, commercial GMP production, bio-conjugation, and injectable fill-finish operations, we are now poised to offer comprehensive, fully GMP-compliant CDMO services to our clients across the U.S. and internationally."

Dr. Mar added, "Joining the Formosa family marks an exciting new chapter for us. We are enthusiastic about leveraging this merger to become a leading CDMO for small molecule APIs and ADCs in the United States."

SOURCE Formosa Laboratories Inc.