Although further details of the firm in question will not be released until the deal is approved by the Canadian courts later this month, Sterling did disclose that site houses laboratory, manufacturing and packaging space as well as 464 sqm of warehouse capacity.
Managing director Peter Boonen said the acquisition “will complete another key strategic milestone in the global positioning of [Sterling Products],” explaining the the facility will give the firm control over production of key products and bolster its asset position.
Sydney-headquartered Sterling are developing a range of plant-derived immunomodulatory drugs.