Dow To Increase Biotechnology Manufacturing With Acquisition

Midland, Mich.-based Dow Chemical Co. will purchase two divisions of The Collaborative Group Ltd., a privately held company based in Stony Brook, N.Y. The purchase includes Collaborative's Biotechnology Services Division -- including the assets of Collaborative BioAlliance Inc. (CBA)-- and Collaborative Smithfield Corp. The purchase, which is expected to be concluded by the end of November, was for an undisclosed price. CBA is a contract developer and manufacturer of biopharmaceutical drugs. The acquisition is aimed at furthering Dow's capabilities in industrial biotechnology, according the Carolyn Fritz, director of the Dow Industrial Biotechnology Business. "The expertise of these employees is the most important feature of this acquisition to us," says Fritz. In addition to about 80 employees, Dow gains a 55,000-sq-ft, multiproduct plant in Smithfield.