SHARE NOW
In exchange for Oxford Biomedica‘s ordinary shares, ABL Europe will be acquired by Oxford Biomedica. This acquisition will reinforce Oxford Biomedica’s position as a leading CDMO in the cell and gene space.
The transaction provides Oxford Biomedica with multi-viral vector CDMO capabilities – to be made available across the Company’s six manufacturing sites in EU, US and UK. In addition, the transaction expands Oxford Biomedica’s capacity in process and analytical development and early-stage manufacturing to better address client needs.
ABL Europe is a European CDMO that specializes in the development and manufacture of solutions for biotechs and biopharma. Their expertise includes viruses for gene therapy, oncolytic viruses, and vaccine candidates.
Dr. Frank Mathias, CEO of Oxford Biomedica, stated: “The acquisition of ABL Europe strengthens Oxford Biomedica’s operations into a global pure-play CDMO in the cell and gene therapy space.”
Oxford Biomedica’s acquisition of ABL Europe aims to strengthen its position as a global Contract Development and Manufacturing Organization (CDMO) specializing in cell and gene therapy. This move consolidates operations and expands the company’s footprint in the European Union, with facilities in Lyon and Strasbourg, France. The acquisition enhances capacity in process and analytical development, early-stage manufacturing, and enables Oxford Biomedica to meet growing client demand for process development in the cell and gene therapy sector.
How are you enjoying this news article? Let us know your thoughts, here >>
ABL Europe is involved in over 10 cell and gene therapy programs covering various disease areas and more than six vector types. The projected revenues for ABL Europe for the year ending December 31, 2023, are approximately €15 million ($16.2 million). Institut Mérieux has acquired a 3.3% stake in Oxford Biomedica, intending to increase it to around 10.0% by the end of Q3 2024 through open market purchases. The completion of the transaction is expected in the first quarter of 2024, subject to meeting regulatory approvals and other conditions.
“We will now be establishing a significant presence in the EU, while also freeing up Oxford Biomedica’s capacity to better serve our growing client demand worldwide. We look forward to realizing the operational and commercial synergies of this acquisition in 2024 and beyond,” said Mathias.
Upon completion, the transaction is anticipated to immediately contribute to the revenue growth of Oxford Biomedica. Additional financial guidance will be offered after the completion of the transaction. As of December 31, 2022, ABL Europe reported earnings before interest, tax, and depreciation (EBITDA) of approximately €1.7 million ($1.84 million) and gross assets of approximately €23.6 million ($ 25.48 million). The transaction is classified as a Class 2 transaction for Oxford Biomedica under the UK Financial Conduct Authority’s Listing Rules. The transaction will also enable new facilities in France to enhance service for clients adding process development and manufacturing capacity in the EU.
Source: Oxford Biomedica Press Release
While we have you…
We are continuously working to better optimize our content for you, our audience. Let us know how we’re doing by ticking the box below, or send us your feedback directly to team@phacilitate.com.
