Capsugel, Morristown, NJ, and Bend OR-based Bend Research have entered into a definitive agreement for Capsugel to acquire Bend Research as part of its Dosage Form Solutions (DFS) business unit. The acquisition provides Capsugel DFS an industry leading position in bioavailability enhancement with access to a premier suite of technologies to address customers’ most pressing formulation challenges for oral drug delivery. Additionally, it brings the company a full range of modified and targeted release solutions to develop innovative new products for its customers. 
 
“The Bend Research transaction highlights Capsugel’s commitment to investment and strategic growth since becoming a KKR portfolio company in the 2011 carve-out acquisition from Pfizer,” said Guido Driesen, president & CEO of Capsugel. “Capsugel and Bend Research share common foundations in science and engineering, with values centered on innovation, quality and customer service. We have been impressed by Bend Research’s people, achievements and technology for some time and are delighted to combine our two companies. Capsugel’s vision of being a leading provider of innovative dosage forms and solutions to its healthcare customers is significantly advanced by this transaction.”
 
Bend Research specializes in bioavailability enhancement, particularly through Spray- Dried Dispersion (SDD) formulation technology. Their portfolio is supplemented by technologies to help advance compounds with a variety of delivery and development challenges, including solutions for modified release, inhalation delivery and biotherapeutic processing and formulation.
 
The completion of this transaction is subject to customary closing conditions including approval from regulatory authorities, and is expected to occur within the next 30 days. Terms of the transaction were not disclosed.