Thermo Fisher Scientific has completed the acquisition of PeproTech for a total cash consideration of approximately $1.85bn.

Based in the US, PeproTech develops bioscience reagents known as recombinant proteins, which include growth factors and cytokines.

These reagents are used in the development and manufacturing of cell and gene therapies as well as in wide cell culture applications, which are mainly models related to cellular research.

Thermo Fisher stated that the recombinant proteins portfolio of PeproTech complements its cell culture media products.

Additionally, Thermo Fisher will be able to offer significant benefits to customers through an integrated offering.

It also noted that the transaction increases its capabilities to serve the cell and gene therapy market.

Thermo Fisher Scientific chairman, president and CEO Marc Casper said: “PeproTech will be an excellent strategic fit within our biosciences business and will allow us to even better serve our pharma and biotech customers by adding new capabilities to our existing offering.

“In combination with our proprietary bioprocessing and cell culture technologies, this complementary transaction positions us to partner with our customers to drive the evolution of the fast-growing market for cell and gene therapies.

“By leveraging our commercial reach, we will be able to efficiently grow the PeproTech business and generate attractive financial results all while furthering our mission to enable our customers to make the world healthier, cleaner and safer.”

Following the acquisition, PeproTech will be integrated into the Life Sciences Solutions Segment to become part of Thermo Fisher’s biosciences business.

Last November, Thermo Fisher confirmed that its polymerase chain reaction (PCR) TaqPath Covid-19 Combo Kit and TaqPath Covid-19 CE-IVD RT-PCR Kit can accurately detect the new emerging Covid-19 variant, Omicron (B.1.1.529).