Gujarat Themis Biosyn Limited (GTBL) has completed the acquisition of 100% of Japan-based MicroBiopharm Japan Co., Ltd. (MBJ) for JPY 21.5 billion, marking a major step in its push to build a globally integrated, fermentation-based CDMO business.

 

The acquisition, first announced on May 22, 2026, was completed through Themis Biosyn Japan Limited, GTBL’s wholly owned Japanese subsidiary, following receipt of customary regulatory approvals and fulfilment of closing conditions.

 

GTBL acquired MBJ from funds managed or advised by T Capital Partners Co., Ltd., a Japan-based private equity fund. The transaction was funded through a mix of debt and equity and is expected to be earnings-per-share accretive for GTBL. MBJ’s existing management team will continue to run the business.

 

With more than six decades of operating experience, MBJ runs three GMP-compliant manufacturing facilities and has a track record of inspections by the US Food and Drug Administration (FDA) and Japan’s Pharmaceuticals and Medical Devices Agency (PMDA).

 

MBJ reported FY26 revenue of JPY 9.5 billion, with operations spanning proprietary APIs and intermediates, CDMO, CDMO Bio, and developed pharmaceuticals and non-pharma businesses. Around 40% of its revenue comes from outside Japan, while its top six customers have been associated with the company for more than two decades.

 

The acquisition gives GTBL access to MBJ’s proprietary P450 enzyme library and precision-fermentation capabilities, alongside technologies covering plasmid DNA, antibody-drug conjugate (ADC) conjugation and recombinant proteins.

 

GTBL said the deal will strengthen its position across oncology, immunosuppressants, peptides, antibiotics and advanced biologics while broadening its access to global pharmaceutical customers.

 

The combined business will also have three GMP-compliant manufacturing sites in Japan, complementing GTBL’s manufacturing footprint in India. The company expects to use its Indian manufacturing scale to improve cost competitiveness and potentially expand margins on high-value products.

 

The deal also provides GTBL with an opportunity to deepen its relationships with pharmaceutical companies across Asia, Europe and North America through MBJ’s established international customer base.

 

Commenting on the completion of the acquisition, Sachin Patel, Managing Director, Gujarat Themis Biosyn Limited, said, “The successful completion of this acquisition marks a defining milestone in GTBL's journey towards becoming a fermentation-based, globally integrated CDMO. 

 

"MBJ brings to us over six decades of fermentation expertise, a proprietary P450 enzyme platform, and deep, long-standing relationships with leading global pharmaceutical companies. 

 

"Together, we are well placed to expand our presence across various avenues including oncology, immunosuppressants, peptides and advanced biologics, while leveraging GTBL's India manufacturing scale to drive growth. We warmly welcome the MBJ team, who will continue to lead operations, and look forward to building this platform together for a mutually rewarding journey ahead.”

 

Commenting on the completion of the acquisition, Shiota, CEO, MicroBiopharm Japan Co., Ltd, said, “This acquisition paves the way for a mutually rewarding journey, combining MBJ's precision fermentation capabilities, biotechnology platforms, and strong relationships with leading pharmaceutical companies, with GTBL's long-standing expertise in fermentation technology, large- scale manufacturing capabilities, and broad portfolio. 

 

"Together, these complementary strengths will enable us to create greater value and, as part of the Themis Group, grow into a leading CDMO witha strong global footprint.”