Evonik buys Transferra to create drug delivery powerhouse

German specialty chemicals company Evonik has bought the Canadian contract development and manufacturing organization Transferra Nanosciences for an undisclosed amount.

The acquisition of Transferra, which specializes in liposomal drug delivery systems, allows Evonik to further expand the portfolio in the health care area and in the drug delivery space in particular.

Jean-Luc Herbeaux, head of the health care business line at Evonik, said: “The combination of the drug delivery businesses of Transferra and Evonik will form a leading service provider providing a full array of services, ranging from prototype identification to commercial manufacturing.”