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US Blocks Asymchem’s $58 Million Acquisition of Boston’s Snapdragon

publication date: Sep 13, 2022

Asymchem’s $58 million acquisition of Boston’s Snapdragon Chemistry, a cross-border tie-up of CDMOs, was blocked by US regulators. Asymchem, headquartered in Tianjin, but with operations also in the US and EU, is a CDMO. Snapdragon, a Boston-area company with expertise in flow chemistry, has developed a novel advanced continuous manufacturing program and built a manufacturing facility with up to 30kg capacity. The US Treasury’s Committee on Foreign Investment in the United States (CFIUS) refused to approve the acquisition, in part because Snapdragon developed its technology with US government funds, and CFIUS did not want a China-based company to own the technology. More details....

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