Oxford Biomedica Explores Acquisition of ABL Europe in Collaboration with Institut Mérieux
20 September 2023
Collaborations, Mergers & Acquisitions
Oxford Biomedica is exploring the acquisition of ABL Europe in partnership with Institut Mérieux, aiming to provide new opportunities and innovative technologies to ABL Europe while advancing its own position in the cell and gene therapy field. The proposed transaction includes Oxford Biomedica’s acquisition of ABL Europe for $16 million, with Institut Mérieux committing to provide $21 million in additional funding through an equity subscription.
Oxford Biomedica and Institut Mérieux SA have initiated exclusive negotiations for Oxford Biomedica’s potential acquisition of ABL Europe SAS (ABL Europe). This move aligns with Oxford Biomedica’s transformation into a world-leading quality-focused and innovation-led Contract Development and Manufacturing Organization (CDMO) in the cell and gene therapy sector.
Specializing in viral vector development and manufacturing, ABL Europe is a European CDMO with facilities in Lyon and Strasbourg. They focus on delivering Good Manufacturing Practice (GMP)-compliant viral vectors from the early stage to market. ABL Europe plays a crucial role in providing tailored gene and immunotherapy solutions to clients. Their service suite includes bulk drug substance production, precise fill-finish of drug products, robust process and assay development, bioanalytical testing, and comprehensive regulatory guidance.
Dr. Frank Mathias, CEO of Oxford Biomedica, highlighted:
“ABL Europe offers the opportunity to gain a footprint in the EU and free up Oxford Biomedica’s capacity to meet increasing client demand, as well as significantly increasing our capabilities and flexibility for clients.”
Augmented capacity to develop and manufacture capacity to address increasing client demands
Expanding european Customer Base: This move broadens the customer base in Europe, facilitating business growth
Global footprint expansion of Oxford Biomedica’s international footprint
Synergies and Revenue Prospects: The combined expertise of both entities could lead to forecasted revenues of approximately €15 million by December 31, 2023.
Furthermore, Institut Mérieux has committed to providing an additional $21 million in funding to ABL Europe through an equity subscription for Oxford Biomedica shares, making Institut Mérieux a major shareholder in Oxford Biomedica.
Michel Baguenault, CEO of Institut Mérieux, stated:
“We are providing ABL Europe’s teams and its French sites with new development prospects and access to innovative technologies, enabling them to expand their offerings to biopharmaceutical companies. As a reference shareholder in Oxford Biomedica, Institut Mérieux intends to support the company’s development in fields that present major challenges for patients, in line with its public health mission.”
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