Provence Technologies Group, a specialist fine chemistry research group, announced that the company has acquired Synprosis (Aix-en-Provence, France), which specializes in the chemical synthesis of peptides and proteins for therapeutic use. The financial terms of the agreement were not disclosed.
The deal opens up new development opportunities for the Provence Technologies Group in the area of biologically active pharmaceuticals. Synprosis, which has produced active principles for vaccines under development (e.g., malaria, cancer, and allergies), as well as in other therapeutic fields (e.g., neurogenerative diseases and the treatment of pain), was first recognized for its expertise in creating synthetic vaccines for HIV and malaria. The technology developed by Synprosis offers increased peptide production yields with a cost reduction of 30-40%.
The Group’s new entity has adopted the name Provepep. Synprosis will be the division specialized in pharmaceutical-standard production, in keeping with good manufacturing practices. Jean-Pierre Salles, who founded Synprosis, will remain in the Provepep executive management team.
“I am delighted to see the Synprosis business integrated into Provepep. This is a real asset for us, since there are numerous synergies that can be achieved with the skills developed at Provence Technologies Group,” said Jean-Pierre Salles in a press release. “It will not just ensure the continuity of our business, but also strengthen it, to provide our clients with the very best service.”
For Provence Technologies Group, the acquisition is consistent with the management team’s strategic objective to strengthen its core business of therapeutic chemistry. “The development of biologically active pharmaceuticals has already been a reality for some years. Synprosis provides technology solutions that restore the standing of small protein production via chemical synthesis, with a higher level of purity at a competitive cost,” said Michel Feraud, chairman and CEO of Provence Technologies Group, in the press release. “With the new generation of Methylene Blue from our Provepharm subsidiary, we are proving ourselves to be dynamic players in the field of pharmacy through innovation in chemical synthesis. The active peptides sector is enjoying rapid growth and we are counting on Provepep to be a excellent division for the group.”