Just months after KBio Inc. announced it would permanently close its Owensboro facility and eliminate 46 jobs, a group of local investors has acquired the company — preserving its assets and potentially charting a new path forward for the biotechnology operation.
The private transaction transfers ownership of KBio Holdings and KBio, Inc. from Nicoventures Holdings Limited, a subsidiary of British American Tobacco. In April, the company notified state officials it would begin winding down operations at its Airpark Drive site beginning April 30, with the facility slated to cease operations by late October.
A small number of senior management roles were expected to continue through the end of 2025. Read the previous story here.
Employees were told at the time that the terminations would be permanent and that they would not have bumping rights. The 46 affected positions spanned analytical services, process development, clinical manufacturing, quality assurance, plant biology, and business services. Senior scientists, directors, engineers, executive assistants, and inventory analysts were among the roles scheduled for elimination.
Now, KBio President Barry Bratcher, local investor Martin Walker, and former KBio President Hugh Haydon have purchased the company and its assets, including the facility, patents, intellectual property, and the KBio name. The trio said they are evaluating options for how to best utilize the biotechnology company moving forward.
“Over the next weeks and months, we will be reaching out to our global network of partners and collaborators to explore how we might best leverage the unique capabilities that KBio is able to offer,” Bratcher said.
Walker said it remains too early to predict what the acquisition could mean for the community.
“It is too early to say what the result of that may look like for Owensboro, but we are excited by the opportunity and looking forward to what the future holds,” he said.
KBio, formerly known as Kentucky BioProcessing, has played a key role in the region’s biotech sector. The company specializes in the development of plant-made pharmaceuticals and uses molecular farming technology to produce vaccines, antibodies, and therapeutic proteins more rapidly and cost-effectively than traditional methods. Its work has contributed to global responses to Ebola and COVID-19.
The Greater Owensboro Economic Development Corporation continues to support business expansion and innovation efforts throughout the community as part of its mission to foster economic growth.
