GE HealthCare Acquires Sofie Biosciences to Expand PET Radiopharmaceuticals
TL/DR –
GE Healthcare is buying US contract manufacturing organization Sofie Biosciences for $945 million, a deal that boosts GE’s US presence in the supply of PET radiopharmaceuticals. Sofie Biosciences brings to the deal its F18 Fibroblast Activated Protein Inhibitor (FAPI) asset, FAPI-74, currently in Phase III development. The deal is expected to close in the first half of 2027, pending regulatory approvals.
GE HealthCare to Acquire Sofie Biosciences
Global multinational GE HealthCare is set to acquire Sofie Biosciences, a U.S.-based contract manufacturing organization (CMO) for PET radiopharmaceuticals. Discover more in-depth analysis in Contract Pharma’s Pharmaceutical Industry Mergers & Acquisitions Roundup.
Details of the Acquisition
The all-cash deal, valued at $945 million, sees GE HealthCare purchase Sofie Biosciences from Trilantic North America.
GE HealthCare’s Expansion in the PET Radiopharmaceutical Market
The acquisition positions GE HealthCare firmly within the time-critical ‘final mile’ of PET radiopharmaceutical supply, expanding its U.S. footprint. The company already operates a network of 15 CMO sites across the U.S., equipped with 21 cyclotrons, and a theranostics-focused CDMO site.
PET radiopharmaceuticals play a pivotal role in precision medicine, aiding in the visualization of metabolic and molecular activity. They are increasingly employed in targeted therapies across numerous disease areas. With a half-life of 110 minutes, Fluorine-18 (F18) labeled PET radiopharmaceuticals need reliable, punctual supply, a role where PET CMOs prove crucial.
Sofie Biosciences’ Contribution to the Deal
Sofie Biosciences currently has an F18 Fibroblast Activated Protein Inhibitor (FAPI) asset, FAPI-74, in Phase III development. “The PET radiopharmaceutical market is expanding rapidly,” according to Kevin O’Neill, President and CEO of GE HealthCare’s Pharmaceutical Diagnostics (PDx) segment. With the acquisition, Sofie Biosciences is expected to grow in the low double digits, enabling GE HealthCare to tap into the full potential of the radiopharmaceutical value stream.
Patrick Phelps, Sofie Biosciences Co-Founder, President, and CEO, expresses similar enthusiasm, citing how the deal with GE HealthCare represents an exciting step forward. He added, “We have significantly expanded our capabilities and scale. We share GE HealthCare’s ambition to improve patient outcomes by delivering on the promise of radiopharmaceuticals.”
Subject to regulatory approvals, the acquisition is set to close in the first half of 2027. Upon completion, Sofie Biosciences will integrate into GE HealthCare’s PDx segment.
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