Fujifilm Holdings Corp. will acquire California-based biotech company Irvine Scientific Sales Co. Inc. and privately held IS Japan Co. Ltd. in a deal worth approximately $800 million.
The Japanese imaging technology company signed a stock purchase agreement to acquire all the outstanding shares of the two companies, both makers of cell culture media.
Cell culture media contain the nutrients that cells need to grow. These cells are important in the research and development of biological drugs and regenerative medicine products.
According to Fujifilm, acquiring Irvine Scientific Sales Co. and IS Japan maximizes the synergy of their cell culture media technologies with the company's existing biomedical technologies.
Fujifilm expects the deal to help further expand its contract development and manufacturing business, its reagent business, and accelerate the research and development of regenerative medicines.