Ajinomoto Co., Inc. to Sell its Entire Equity Stake in Ajinomoto Althea, a US-based Aseptic Fill/Finish CDMO

Ajinomoto Co., Inc. (“Ajinomoto Co.”) announced today that it has signed a share transfer agreement (the “Agreement”) to sell all of its shares (the “Transaction”) of Ajinomoto Althea, Inc. (“Althea”), a US-based sterile fill-finish CDMO and a 100% subsidiary of Ajinomoto Co., to Packaging Coordinators Inc. (“PCI”).

Althea provides aseptic fill-finish services for clinical- and commercial-stage biopharmaceutical customers as a member of Ajinomoto Bio-Pharma Services. PCI is a leading global contract development and manufacturing organization (CDMO) providing clients with integrated end-to-end drug development, manufacturing, clinical trial services, advanced drug delivery and commercial packaging technology services, which has been actively investing to expand its sterile fill-finish capacity and capabilities, as exemplified by the acquisition of Lyophilization Services of New England, Inc. in 2021. Ajinomoto Co. has concluded that, given the strengths and service offering of both companies, PCI is the best partner for Althea to continue its growth and maximize its value to customers.

In accordance with the Medium-Term ASV Initiatives 2030 Roadmap announced in February 2023, Ajinomoto Co. is pursuing growth by focusing on the four strategic growth areas where high market growth potential as well as high social value are expected, leveraging the strengths of “AminoScience.” Within the Healthcare area, Ajinomoto Co. is focused on high value-added services driven by its proprietary technologies, and as part of this strategy, it has acquired Forge Biologics Holdings, entering into a gene therapy CDMO business. Ajinomoto Co. continues to operate CDMO business with focus mainly on further developing high value-added services where it can leverage its proprietary technologies and aims to accelerate growth and realize strong profitability in the Healthcare area.

The Transaction is scheduled to be completed in May 2025, subject to general preconditions stipulated in the Agreement. The impact of the Transaction on the Ajinomoto Co.’s financial results has been incorporated to the extent possible in the “[Notice of Revision to Consolidated Financial Results Forecasts and the Difference of Non-Consolidated Financial Results as Compared to Actual Results for the Previous Year]” announced today.

While Althea will be separated from Ajinomoto Bio-Pharma Services, all other Ajinomoto Bio-Pharma Services will continue to operate globally as part of Ajinomoto group. Ajinomoto Bio-Pharma Services remains committed to mainly providing drug substance manufacturing services across the complex modalities, utilizing our unique technology.