Thermo Fisher Scientific Inc. the world leader in serving science, and Brammer Bio, a leader in viral vector manufacturing for gene and cell therapies, have entered into a definitive agreement under which Thermo Fisher will acquire Brammer Bio for approximately $1.7 billion in cash.

Brammer Bio is a leading viral vector contract development and manufacturing organization (CDMO), enabling biopharma customers to deliver breakthrough medicines to patients by unleashing the potential of gene therapies and gene-modified cell therapies. The business has nearly 600 employees at primary locations in Massachusetts and Florida.

Brammer Bio is on track to deliver $250 million of revenue in 2019 and expects to continue to exceed the projected market growth rate of 25 percent over the mid-term. Thermo Fisher expects the business to be accretive to adjusted earnings per share by $0.10 in the first full year of ownership.

The transaction, which is expected to be completed by the end of the second quarter of 2019, is subject to customary closing conditions, including regulatory approvals. Upon completion, Brammer Bio will become part of Thermo Fisher'spharma services business within its Laboratory Products and Services Segment.