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JXTGE Announces Sale of Irvine Scientific to FujiFilm
JXTG Nippon Oil & Energy Corporation has announced it has agreed to sell Irvine Scientific Sales Company, Inc. and IS Japan Co., Ltd. to FUJIFILM Corporation (FujiFilm).
JXTG Energy acquired Irvine Scientific in 1987 and launched IS Japan in 1989; both companies have continuously expanded to become significant suppliers of cell culture media and products to the biopharmaceutical, cell therapy and medical markets in their respective regions. Although the business has experienced significant growth, life sciences and medical devices are not synergistic for JXTG Energy’s core business going forward.
JXTG Energy determined it would be best for the Irvine Scientific group to continue under ownership which is synergistic to Irvine Scientific products and services.
FujiFilm announced it would acquire the Irvine Scientific group and maximize their synergy in its significant and growing bio-medical businesses. FujiFilm expects increased demand and needs of biopharmaceutical products and regenerative medicine therapy is driving current rapid growth of the cell culture media market and estimates continued strong growth in the coming years.
Irvine Scientific is an innovator of cell culture media, to biopharmaceutical, assisted reproductive technology, and regenerative medicine customers. By applying its high capabilities in R&D and Quality systems, coupled with long experience, Irvine Scientific has developed a strong presence serving customer needs. Irvine Scientific’s California, USA and Saitama, Japan cGMP facilities will be transferred and provides capacity to supply high-quality products in a timely manner worldwide.
FujiFilm is advancing growth strategies within healthcare space, investing in biopharmaceutical contract development/manufacturing, and regenerative medicine. Prior to this announcement, FujiFilm acquired the global leader in iPS cell technologies, Cellular Dynamics International, Inc (“CDI”) and has entered into cell culture media space with the acquisition of general reagents manufacturer, Wako Pure Chemical Industries, Ltd. (“Wako Pure Chemical”). With the acquisition of Irvine Scientific, FujiFilm will have a full product line supporting customers supplying antibody drugs to assisted reproductive technologies and cell therapy, and will also enable FujiFilm to strengthen its overseas business. FujiFilm announced it plans to further accelerate competitive media development and expand cell culture media business by applying chemical synthesis and design technologies acquired through its original business in photographic films and from Japan Tissue Engineering (“J-TEC”), as well as cell growth and manufacturing technologies from CDI and FUJIFILM Diosynth Biotechnologies.
In addition, FujiFilm plans on maximizing synergies outside of cell culture business, combining media technologies and products of Irvine Scientific with FujiFilm Group’s biomedical technologies and products. Specific synergies mentioned include (1) expansion of contract development/manufacturing of biomedicine (2) acceleration of research and development in regenerative medicine (3) expansion of research-purpose chemical reagents business.
The Irvine Scientific Group is excited about this change and anticipates continued acceleration of its cell culture media businesses under new ownership.