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News & Announcements Why Paragon Bioservices’ $1.2B acquisition deal matters to Baltimore

April 26, 2019

It's among the largest exits in the region of the last decade, and the company's growth is likely to continue to be felt.

For Paragon Bioservices, news came quickly earlier this month.

On a Thursday in mid-April, Gov. Larry Hogan and other state and county officials joined biotech community supporters at an Anne Arundel County site near BWI Airport that’s increasing capacity for the company’s work with large firms to manufacture new treatments. Specifically, speakers talked about the company’s expertise in gene therapy, which is an area of medicine that involves introducing DNA to fight a genetic disease.

By that Monday morning, the Baltimore city-based company’s capabilities in gene therapy were being touted by New Jersey-based Catalent, an 11,000-employee company with facilities on five continents: Catalent said it had agreed to acquire Paragon Bioservices in a $1.2 billion deal.

Read the full article at Baltimore