Tag Archives: Biotechnology

Avid Bioservices to be Acquired by GHO Capital Partners and Ampersand Capital Partners in $1.1 Billion Transaction

Ampersand

Tustin, CA & London, UK & Boston, MA , November 6th 2024 (GLOBE NEWSWIRE) – Avid Bioservices, Inc. (NASDAQ: CDMO) (“Avid” or the “Company”), a dedicated biologics contract development and manufacturing organization (“CDMO”) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, GHO Capital Partners LLP (“GHO”) and Ampersand Capital Partners (“Ampersand”) today announced they have entered into a definitive merger agreement for Avid to be acquired by funds managed by GHO and Ampersand in an all-cash transaction valued at approximately $1.1 billion.

Under the terms of the merger agreement, GHO and Ampersand would acquire all the outstanding shares held by Avid’s stockholders for $12.50 per share in cash. The per share purchase price represents a 13.8% premium to Avid’s closing share price of $10.98 on November 6, 2024, the last full trading day prior to the transaction announcement, and a 21.9% premium to the Company’s 20-day volume-weighted average share price for the period ended November 6, 2024. This transaction equates to an enterprise value of approximately $1.1 billion, a 6.3x multiple to consensus FY2025E revenue.

“Since our founding, Avid Bioservices’ business has grown by evolving to meet our customers’ broad range of development and manufacturing needs. After years of investment and expansion, now is the right time to move forward as a private company with new owners that will support our next phase,” stated Nick Green, president and CEO of Avid Bioservices. “In evaluating this transaction, our Board considered a range of alternatives and determined that it provides our stockholders significant, immediate and certain cash value for their shares. Partnering with GHO Capital and Ampersand Capital Partners allows us to build on our strong foundation by accessing their significant knowledge base, network and capital to position the business for the future with our customers.”

“We are excited to announce this recommended cash acquisition of Avid,” said Alan MacKay and Mike Mortimer, Managing Partners of GHO. “As experienced CDMO industry investors, GHO brings deep expertise and experience to support Avid’s management team going forward. Our mission at GHO is to make healthcare better, faster, and more accessible and at the heart of this is enabling efficient, high-quality manufacturing of innovative treatments. Avid exemplifies this perfectly – the Company operates in high-growth markets, producing complex biologics for leading pharmaceutical and biotech innovators at both the clinical and commercial stages. Avid’s recent investments, both in capacity and its exemplary team, position it strongly for future growth. We look forward to working with the Avid team to unlock the Company’s full potential through our established playbook of expanded offerings, talent investment and greater geographic reach.”

“Avid has long been a trusted provider of biopharmaceutical development and manufacturing services, and we have tremendous respect for its team’s expertise, its broad spectrum of customized services and its strong regulatory track record. We look forward to leveraging our deep industry experience, focused strategy, and collaborative approach to drive growth,” said, David Anderson, General Partner of Ampersand.

Transaction Details

The transaction, which was unanimously approved by the Avid Board of Directors, is currently expected to close in the first quarter of 2025, subject to customary closing conditions, including approval by Avid’s stockholders and receipt of required regulatory approvals. The transaction is not subject to a financing condition. The companies will continue to operate independently until the proposed transaction is finalized.

Upon completion of the transaction, Avid common stock will no longer be listed on any public stock exchange. The Company will continue to operate under the Avid name and brand.

Advisors

Moelis & Company LLC is serving as exclusive financial advisor to Avid, and Cooley LLP is serving as legal counsel to Avid. William Blair & Company, LLC is serving as exclusive financial advisor and Ropes & Gray LLP is serving as legal counsel to GHO and Ampersand.

About Avid Bioservices, Inc.

Avid Bioservices (NASDAQ: CDMO) is a dedicated CDMO focused on development and CGMP manufacturing of biologics. The Company provides a comprehensive range of process development, CGMP clinical and commercial manufacturing services for the biotechnology and biopharmaceutical industries. With more than 30 years of experience producing biologics, Avid’s services include CGMP clinical and commercial drug substance manufacturing, bulk packaging, release and stability testing and regulatory submissions support. For early-stage programs the Company provides a variety of process development activities, including cell line development, upstream and downstream development and optimization, analytical methods development, testing and characterization. The scope of our services ranges from standalone process development projects to full development and manufacturing programs through commercialization. Avidbio.com

About GHO Capital

Global Healthcare Opportunities, or GHO Capital Partners LLP, is a leading specialist healthcare investment advisor based in London. GHO Capital applies global capabilities and perspectives to unlock high growth healthcare opportunities, targeting Pan-European and transatlantic internationalisation to build market leading businesses of strategic global value. GHO Capital’s proven investment track record reflects the unrivalled depth of our industry expertise and network. GHO Capital partners with strong management teams to generate long-term sustainable value, improving the efficiency of healthcare delivery to enable better, faster, more accessible healthcare. For further information, please visit GHOcapital.com.

About Ampersand

Ampersand Capital Partners, founded in 1988, is a middle-market private equity firm with $3 billion of assets under management, dedicated to growth- oriented investments in the healthcare sector. With offices in Boston, MA, and Amsterdam, Netherlands, Ampersand leverages a unique blend of private equity and operating experience to build value and drive long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of the firm’s core healthcare sectors. For additional information, visit Ampersandcapital.com or follow Ampersand on LinkedIn.

ADDITIONAL INFORMATION AND WHERE TO FIND IT

The Company intends to file a proxy statement with the U.S. Securities and Exchange Commission (“SEC”) with respect to a special meeting of stockholders to be held in connection with the proposed transaction. Promptly after filing the definitive proxy statement with the SEC, the Company will mail the definitive proxy statement and a proxy card to each stockholder entitled to vote at the special meeting to consider the proposed transaction. STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS THAT THE COMPANY WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Stockholders may obtain, free of charge, the preliminary and definitive versions of the proxy statement, any amendments or supplements thereto, and any other relevant documents filed by the Company with the SEC in connection with the proposed transaction at the SEC’s website ( https://www.sec.gov). Copies of the preliminary and definitive versions of the proxy statement, any amendments or supplements thereto, and any other relevant documents filed by the Company with the SEC in connection with the proposed transaction will also be available, free of charge, at the Company’s investor relations website ( https://ir.avidbio.com/sec-filings ). The information provided on, or accessible through, our website is not part of this press release, and therefore is not incorporated herein by reference.

PARTICIPANTS IN THE SOLICITATION

The Company and certain of its directors, executive officers and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. Information regarding the Company’s directors and executive officers is available in the Company’s proxy statement for the 2024 annual meeting of stockholders, which was filed with the SEC on August 28, 2024 (the “Annual Meeting Proxy Statement”). Please refer to the sections captioned “Security Ownership of Certain Beneficial Owners, Directors and Management,” “Director Compensation,” and “Executive Compensation-Outstanding Equity Awards at Fiscal Year-End” in the Annual Meeting Proxy Statement. To the extent holdings of such participants in the Company’s securities have changed since the amounts described in the Annual Meeting Proxy Statement, such changes have been reflected on Initial Statements of Beneficial Ownership on Form 3 or Statements of Change in Ownership on Form 4 filed with the SEC: Form 4, filed by Nicholas Stewart Green on October 11, 2024, Form 4, filed by Richard A. Richieri on October 11, 2024, Form 4, filed by Matthew R. Kwietniak on October 11, 2024, and Form 4, filed by Matthew R. Kwietniak on October 15, 2024. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the definitive proxy statement and other relevant materials to be filed with the SEC in connection with the proposed transaction when they become available. Free copies of the Annual Meeting Proxy Statement, the definitive proxy statement related to the proposed transactions and such other materials may be obtained as described in the preceding paragraph.

FORWARD-LOOKING STATEMENTS

This communication contains “forward-looking statements” which include, but are not limited to, all statements that do not relate solely to historical or current facts, such as statements regarding the Company’s expectations, intentions or strategies regarding the future, or the completion or effects of the proposed sale of Avid to GHO and Ampersand. In some cases, these statements include words like: “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “objective,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue” and “ongoing,” or thenegative of these terms, or other comparable terminology intended to identify statements about the future. These forward-looking statements are subject to the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. The Company’s expectations and beliefs regarding these matters may not materialize. Actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of uncertainties, risks, and changes in circumstances, including but not limited to risks and uncertainties related to: the timing, receipt and terms and conditions of any required governmental and regulatory approvals of the proposed transaction that could delay the consummation of the proposed transaction or cause the parties to abandon the proposed transaction; the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement entered into in connection with the proposed transaction; the possibility that the Company’s stockholders may not approve the proposed transaction; the risk that the parties to the merger agreement may not be able to satisfy the conditions to the proposed transaction in a timely manner or at all; risks related to disruption of management time from ongoing business operations due to the proposed transaction; the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of the Company’s common stock; the risk of any unexpected costs or expenses resulting from the proposed transaction; the risk of any litigation relating to the proposed transaction; and the risk that the proposed transaction and its announcement could have an adverse effect on the ability of the Company to retain and hire key personnel and to maintain relationships with customers, vendors, partners, employees, stockholders and other business relationships and on its operating results and business generally. Additional risks and uncertainties that could cause actual outcomes and results to differ materially from those contemplated by the forward-looking statements are included under the caption “Risk Factors” and elsewhere in the Company’s most recent filings with the SEC, including the Company’s Quarterly Report on Form 10-Q for the quarter ended July 31, 2024 and any subsequent reports on Form 10-K, Form 10-Q or Form 8-K filed with the SEC from time to time and available at https://www.sec.gov.

The forward-looking statements included in this information statement are made only as of the date hereof. The Company assumes no obligation and does not intend to update these forward-looking statements, except as required by law.

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Nektar Announces Definitive Agreement with Ampersand Capital Partners to Sell Its Commercial PEGylation Reagent Manufacturing Business in Alabama

Ampersand

Huntsville-based facility to be spun out as standalone Ampersand portfolio company. Nektar to receive $90 million in total consideration for the business, comprised of $70 million in cash and $20 million equity ownership in new portfolio company. Strategic divestiture allows Nektar to streamline its operations and continue its strategic focus on the development of core R&D programs in immunology.

San Francisco, CA, November 4th, 2024 – Nektar Therapeutics (Nasdaq: NKTR), a global biotechnology company focused on the discovery and development of novel therapies to treat autoimmune disorders, today announced that it has entered into a definitive agreement to sell its Huntsville, Alabama manufacturing facility and reagent supply business to Ampersand Capital Partners, a Boston-based private equity firm with a decades-long track record of investing in life sciences and healthcare companies, including contract manufacturing and pharma services businesses.

Ampersand has agreed to acquire Nektar’s commercial-scale manufacturing facility and PEGylation reagent supply business for a total consideration of $90 million, comprised of $70 million in cash proceeds and $20 million in a retained equity position for Nektar in a newly-created Ampersand portfolio company. Ampersand has also committed to invest additional growth equity capital into the new portfolio company. Following the closing of the transaction, Nektar will be entitled to appoint a representative to the board of the new Ampersand portfolio company.

The Huntsville site is a 124,000 square foot, commercial-scale specialized manufacturing facility with a strong history of supporting commercial supply chains for PEGylated therapeutics across global markets. The facility has several commercial-scale supply chain contracts with leading pharmaceutical companies. All of Nektar’s employees at the Huntsville facility will be offered employment at the new portfolio company, ensuring continuity in the high-quality manufacturing and PEGylation expertise that longstanding customers trust and rely on.

“This sale streamlines Nektar’s operations as we continue to focus on the future success and clinical advancement of rezpegaldesleukin and our other antibody-based immunology pipeline assets, including our TNFR2 antibody and bispecific programs,” said Howard W. Robin, President and CEO of Nektar Therapeutics. “We believe Ampersand is an optimal partner to lead the manufacturing activities at the Huntsville facility. Importantly, Ampersand’s commitment to investing in the plant’s business will help ensure that Nektar’s existing commercial customers of PEGylation reagents will continue to be well served and will also provide uninterrupted access to a reliable supply of PEGylation reagents for Nektar’s needs. The sale also further extends Nektar’s cash runway into the fourth quarter of 2026.”

Nektar and the new Ampersand portfolio company will be entering into manufacturing supply agreements to meet Nektar’s PEG reagent needs for rezpegaldesleukin and certain pipeline programs.

“We were immediately impressed with the world-class PEGylation reagent manufacturing capabilities at this facility,” said David Anderson, General Partner, Ampersand Capital Partners. “The Huntsville site and its employees have played an important role in the development of significant FDA-approved PEGylated therapeutic medicines. We look forward to investing in and growing the site as a stand-alone manufacturing business dedicated to serving existing and new customers.”

The sale is not subject to financing contingencies. The transaction will be subject to customary closing conditions and costs and is expected to close by December 2, 2024. Following the closing, Nektar will retain all rights to current and future royalty streams and milestones related to existing PEGylated product license agreements.

UBS Investment Bank acted as exclusive financial advisor and Sidley Austin LLP served as legal advisor to Nektar Therapeutics. Goodwin Procter LLP acted as legal advisor to Ampersand Capital Partners.

About Nektar Therapeutics

Nektar Therapeutics is a clinical-stage biotechnology company focused on developing treatments that address the underlying immunological dysfunction in autoimmune and chronic inflammatory diseases. Nektar’s lead product candidate, rezpegaldesleukin (REZPEG, or NKTR-358), is a novel, first-in-class regulatory T cell stimulator being evaluated in two Phase 2b clinical trials, one in atopic dermatitis and one in alopecia areata. Our pipeline also includes a preclinical candidate NKTR-0165, which is a bivalent tumor necrosis factor receptor type II agonist antibody. Nektar, together with various partners, is also evaluating NKTR-255, an investigational IL-15 receptor agonist designed to boost the immune system’s natural ability to fight cancer, in several ongoing clinical trials. Nektar is headquartered in San Francisco, California. For further information, visit Nektar.com and follow us on LinkedIn.

About Ampersand Capital Partners

Ampersand Capital Partners, founded in 1988, is a middle-market private equity firm with $3 billion of assets under management, dedicated to growth-oriented investments in the healthcare sector. With offices in Boston, MA, and Amsterdam, Netherlands, Ampersand leverages a unique blend of private equity and operating experience to build value and drive long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of the firm’s core healthcare sectors. For additional information, visit AmpersandCapital.com or follow us on LinkedIn.

This press release contains forward-looking statements which can be identified by words such as: “will,” “expect,” “develop,” “extend,” “advance,” “anticipate,” “can,” and similar references to future periods. Examples of forward-looking statements include, among others, statements regarding the therapeutic potential of, and future development plans for rezpegaldesleukin, NKTR-1065, and our other drug candidates. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward looking statements. Important factors that could cause our actual results to differ materially from those indicated in the forward-looking statements include, among others: (i) our statements regarding the therapeutic potential of rezpegaldesleukin, NKTR-1065, and our other drug candidates are based on preclinical and clinical findings and observations and are subject to change as research and development continue; (ii) rezpegaldesleukin, NKTR-1065, and our other drug candidates are investigational agents and continued research and development for these drug candidates is subject to substantial risks, including negative safety and efficacy findings in future clinical studies (notwithstanding positive findings in earlier preclinical and clinical studies); (iii) rezpegaldesleukin, NKTR-1065, and our other drug candidates are in preclinical and clinical development, and the risk of failure is high and can unexpectedly occur at any stage prior to regulatory approval; (iv) the timing of the commencement or end of clinical trials and the availability of clinical data may be delayed or unsuccessful due to regulatory delays, slower than anticipated patient enrollment, manufacturing challenges, changing standards of care, evolving regulatory requirements, clinical trial design, clinical outcomes, competitive factors, or delay or failure in ultimately obtaining regulatory approval in one or more important markets; (v) patents may not issue from our patent applications for our drug candidates, patents that have issued may not be enforceable, or additional intellectual property licenses from third parties may be required; and (vi) certain other important risks and uncertainties set forth in our Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 9, 2024. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

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Gimv participates in a $92M Series A financing round at Kivu Bioscience to advance next-gen antibody-drug conjugates

GIMV

Gimv joins a $92M Series A financing round led by Novo Holdings to support the development of antibody-drug conjugate (ADC) programs in oncology utilizing a clinically validated platform designed to minimize off-target toxicity and improve efficacy. 

Kivu Bioscience (https://kivubioscience.com) is a biotech company headquartered in San Francisco that develops next-gen antibody-drug conjugates (ADCs) in oncology to deliver best-in-class therapeutics. Today, the company announces the close of a $92 million Series A financing round led by Novo Holdings and further joined by Gimv, Red Tree, HealthCap, BioGeneration Ventures, Merck Ventures, and Brabantse Ontwikkelings Maatschappij (BOM).

Michaël Vlemmix, Partner Life Sciences, declares: “I am thrilled to work alongside co-investors and the management team to build Kivu into a leading ADC company. Its ambition holds great potential to significantly enhance patient outcomes in the future.” 

Christoph Kocher, Principal Life Sciences further adds: “We are excited to be using the clinically derisked technology of Synaffix in our first two programs that are aimed to show robust clinical proof of concept with this financing.”

Bram Vanparys, Head of Life Sciences, adds: “Our new investment in Kivu Bioscience aligns perfectly with our strategic vision for Gimv’s Life Sciences Platform. This investment represents a significant step forward in our commitment to advancing therapeutic solutions for cancer patients. We are excited about the potential this investment holds for driving impactful advancements and delivering value to our stakeholders.”

For more information, please read the full press release from Kivu Bioscience attached.

https://www.gimv.com/sites/default/files/media/241028_PR_Kivu_BioScience_EN.pdf

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Leinco Technologies Inc. Acquires QED Biosciences, Leading Provider of Antibodies, Related Reagents, and Development Services

Ampersand

Leinco Technologies Inc. Acquires QED Biosciences, Leading Provider of Antibodies, Related Reagents, and Development Services

Strategic acquisition will enable Leinco to expand its portfolio of antibody capabilities used globally for research and diagnostics.

St. Louis, MO – September 3, 2024 – Leinco Technologies (“Leinco”), a trusted source of high-quality primary and secondary antibodies, recombinant proteins, biological buffers, assay substrates and IVD raw materials, today announced its acquisition of Genovis-owned QED Biosciences (“QED”), a leading provider of antibodies, kits, and recombinant proteins and antigens catering to the diverse needs of the IVD and research communities. In addition, QED complements Leinco’s suite of antibody development and other services, strategically targeting the IVD and research sectors.

Founder and CEO of Leinco Technologies, Pat Leinert Sr., comments, “We are thrilled to integrate Genovis’s antibody business into our portfolio and look forward to serving all of QED’s current customers. This acquisition strengthens our position in the antibody market by allowing us to offer an even broader range of innovative, high-quality products to our global customers. We look forward to building on Genovis’ legacy of excellence and delivering these unique antibodies to researchers and clinicians worldwide.”

Backed by private equity firm Ampersand Capital Partners (“Ampersand”), Leinco Technologies has built a reputation for delivering high-quality antibodies used in cutting-edge research and diagnostic applications. Ampersand Operating Partner and Leinco Chairman, Frank Witney, adds, “We look forward to integrating QED’s exceptional capabilities and high-quality products and services into the Leinco portfolio. The addition of QED positions Leinco well for continued growth as a global leader serving the antibody market.”

“We are pleased to have found a strong partner in Leinco Technologies to take over our antibody business,” said Fredrik Olsson, CEO of Genovis. “We believe that under Leinco’s ownership, the antibody business will thrive and continue to serve its customers with the same commitment to quality and innovation.”

The acquisition of QED strengthens Leinco Technologies’ strategic growth strategy in the life science and IVD raw material markets. This move builds upon Leinco’s recent investments, including:

  • Expansion of Catalog Offerings: Providing researchers with a wider range of high-quality reagents including antibodies and recombinant proteins
  • Launch of Rabbit Monoclonal Antibody Development Services: Addressing the growing demand for advanced antibody solutions
  • Addition of Downstream Site-Specific Conjugation: Delivering precise and targeted antibody modifications
  • Launch of Enhanced CHO Cell Expression System: Achieving 3-6 grams per liter protein expression levels

These recent strategic investments solidify Leinco’s commitment to driving innovation and empowering researchers with cutting-edge tools to enable groundbreaking discoveries in life science and diagnostics.

 

 

About Leinco Technologies Inc.

Headquartered in St. Louis, Missouri, Leinco Technologies is a biotechnology company that was founded in 1992 as a specialty manufacturer of early discovery research products including antibodies, recombinant proteins, ELISA kits, second step reagents and many other life science research products. Shortly thereafter, Leinco also established itself as a premier provider of IVD raw materials and custom manufacturing or discovery services with a focus on monoclonal antibodies and recombinant proteins. Our innovative products and services are used all over the world to augment the early discovery processes in life science research, diagnostics and development of protein therapeutics. For additional information, visit Leinco.com or follow us on LinkedIn.

About Genovis

Headquartered in Kävlinge, Sweden, Genovis offers customers in the biopharmaceutical and research industries tools that facilitate and save time in the development of new treatment methods and diagnostics. Genovis enzyme products, known as SmartEnzymes, are used by scientists all over the world and the innovative product formats facilitate development and quality control of biological drugs. Additionally, Genovis provides the highest quality polyclonal and monoclonal catalogue antibodies and novel bespoke antibody services for development and bulk manufacturing.

About Ampersand Capital Partners

Ampersand Capital Partners, founded in 1988, is a middle-market private equity firm with $3 billion of assets under management, dedicated to growth-oriented investments in the healthcare sector. With offices in Boston, MA, and Amsterdam, Netherlands, Ampersand leverages a unique blend of private equity and operating experience to build value and drive long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of the firm’s core healthcare sectors. For additional information, visit Ampersandcapital.com or follow us on LinkedIn.

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819 Capital Partners invests in UK-based Vidiia Ltd.

819 Capital Partners

819 Capital Partners has recently invested in Vidiia Ltd. from 819 Evergreen Fund, alongside a bio-scientist entrepreneur, the University of Surrey and Brunel University London.

 

 

 

Accelerating the growth strategy

Vidiia commercialises a fast and accurate molecular diagnostic testing platform with built-in Artificial Intelligence (AI). The new funding will be used to accelerate the company’s growth strategy.

David Rimer, CEO and Founder of Vidiia: “With the funds we can implement our growth strategy, which aims to commercialise existing assays ready for market, develop new assays with universities and enhance our AI powered testing platform. Vidiia’s Assay Accelerator service, pulls tests off university benches and gets them to market, which we have now proven several times.”

Strong testing platform

Vidiia has a strong testing platform, which is explained by Dr Nick Hutchings, one of the investors in this round: “Assays are reproducible tools that allow us to understand medicine and biology at a molecular level. I am excited to join Vidiia and help scientists to develop and commercialise new assays on the world class Vidiia platform.”

Sven Kempers, director at 819 Capital Partners, expresses trust in Vidiia’s platform and team: “Vidiia’s technology provides many testing options for rapid diagnoses. We are confident that the team will successfully execute the growth strategy.”

Academic validation

Vidiia has strong support from academic institutions, such as Brunel University London and University of Surrey.

Dr Averil Horton – Head of Business Development and Innovation, Brunel University London – explains: “The Vidiia Assay Development Programme has enabled Brunel to place innovative bio-science IP within a structured framework to commercialisation. Their methodology and AI powered testing platform mean they have the end-to-end knowledge and tools for success.”

Professor Lisa Collins – Pro-Vice-Chancellor, Research and Innovation at the University of Surrey – said: “It is fantastic to see the groundbreaking research of our scientists being brought to market with the help of Vidiia. It is important that the scientific community and industry partners continue to work together to develop innovative testing products to identify infectious diseases.”

Professor Roberto La Ragione – Professor of Veterinary Microbiology and Pathology, School of Veterinary Medicine, and Head of the School of Biosciences at the University of Surrey – said: “Infectious diseases remain a global threat to human and animal health, and our economies. Funding is necessary to enable Vidiia and our scientists to continue our work in developing highly accurate and rapid tests to prevent the next pandemic.”

Hands-on experience

David Rimer, concludes that investment brings more than just the funding: “We are delighted to be working with 819 and Dr Nick Hutchings. Both parties bring the crucial hands-on experience and connections that Vidiia were looking for. The continued support from our university partners also provides a significant boost beyond financial investment.”

819 Capital Partners invested in Vidiia Ltd. from 819 Evergreen Fund.

More information about Vidiia Ltd. on: https://vidiia.com/

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Ardian acquires majority stake in Masco Group, a leading solution provider to the biopharma and life sciences industry

Ardian

Ardian, a world-leading private investment house, announces its acquisition of a majority stake in Masco Group (“Masco”), a global provider of engineered solutions for the pharmaceutical and biotech industries. Ardian has purchased the stake from RSBG SE, the holding subsidiary of RAG-Stiftung. The Borella family and Masco Group’s current management team will reinvest alongside Ardian and Luca Borella will continue to lead the company as CEO. Angelos Papadimitriou and Claudio Colombi will also invest in this transaction and will join the Board of Directors as Chairman and Director, respectively.

Founded in 1912, and headquartered in Milan, Masco provides a range of bespoke products and services to the biopharma and life sciences industry. These include high-purity water systems, bioprocessing equipment, modular off-site fabricated facility solutions, process engineering, laboratory, validation, and automation services. Masco’s customers include the world’s largest biopharma companies and CDMOs, with international sales in more than 80 countries. Masco’s global footprint includes 7 facilities located across Europe, North America, and Asia.

Ardian will leverage its deep industry expertise in pharmaceutical and life sciences to support Masco in the next phase of growth, driving a number of compelling organic initiatives, further international expansion, and completing acquisitions focused on strengthening the Company’s technological capabilities while driving operational excellence.

“I want to extend my sincere thanks to RSBG for their partnership since 2017, which has been invaluable. My gratitude also goes to the Masco Group management team, along with our dedicated colleagues, whose relentless efforts and outstanding achievements have laid a solid foundation for our ongoing and future success. I am particularly proud to mention my father, Alberto Borella, for his dedication and contribution to this journey and his decision to reinvesting and partnering with Ardian, ensuring continued success and stability of our business. Looking ahead, I am thrilled about the strategic growth plan we have outlined with Ardian, and I am delighted to welcome Angelos Papadimitriou as Chairman of the Board and Claudio Colombi as Director. I am confident the contribution of Ardian team will enhance our technological capabilities and operational excellence, ensuring we continue to meet the evolving needs of our clients and the industry at large.” Luca Borella, Masco Group CEO

“We are extremely happy to partner up with Luca Borella and his family to lead the next phase of growth of Masco. Together with RSBG, Luca and the management have created a global player in advanced engineering solutions for the life sciences industry. We are convinced that Masco is ideally poised to benefit from long-term tailwinds in the biotech industry, due to its deep engineering and process knowledge. We look forward to accelerating the Company’s international development organically and through an ambitious M&A strategy. This transaction is testament to Ardian’s expertise in investing in the most attractive niches within healthcare and partnering with leading entrepreneurial families. I am personally very excited to welcome Angelos Papadimitriou and Claudio Colombi as Chairman and Director of Masco Group, respectively. Angelos and Claudio bring a wealth of knowledge in leading industrial multinationals and will work alongside Luca to further establish Masco as a global leader in its market.” Marco Bellino, Deputy Head of Buyout Italy & Managing Director, Ardian

“Masco is an outstanding organization, and we are incredibly proud to partner with Luca Borella and the Masco team. Masco plays a vital role in the life sciences industry, with its portfolio of products and services supporting the production of numerous ground-breaking therapies and medications. With Ardian’s global reach and expanding presence in North America, we intend to accelerate Masco’s growth while providing their customers with a wider range of innovative products and services. Our investment in Masco exemplifies Ardian’s ability to harness our industry expertise, global reach, and collaborative approach with families and entrepreneurs alike.” Christopher Sand, Managing Director Buyout, Ardian

“I am very pleased to join Ardian, Luca Borella and Masco Group’s management team in this exciting project and be appointed as Chairman of Masco Group. Masco is a global excellence in the engineering, design and manufacturing of advanced solutions for the pharmaceutical and biotech industries. I look forward to utilizing my expertise in the machinery space and background in pharmaceuticals, reconnecting with industry participants, and helping Luca and his team cement Masco’s positioning as a leading consolidator in the space. I am very excited to work once more alongside the Ardian team on another of their portfolio companies. I continue to be impressed by Ardian’s entrepreneurial mindset and ability to scout and invest in global leaders, providing resources and support for reaching their full potential.” Angelos Papadimitriou, Masco Group Newly Appointed Chairman

“We are extremely pleased that in Ardian we have found a great new partner for Masco Group. Together with Ardian, Masco’s seasoned and outstanding management team will continue the growth path we have embarked on together over the past seven years. We are convinced that the Masco Group is excellently prepared for further technological development and geographical expansion in the healthcare, biotech and life sciences industry.” Dr. Klaus Lesker, Chief Executive Officer of RSBG SE

“Since we partnered with Luca Borella and his family in 2017, we have jointly pursued an accelerated buy-and-build strategy with Masco Group. With 4 landmark acquisitions in 5 years, we have successfully inorganically enriched the offerings portfolio and geographic presence of Masco Group. We are extremely proud that together with the management team we were able to expand Masco’s range of advanced machinery solutions also in the field of modular prefabricated facilities for the pharmaceutical and biotech industry. We are confident, that Ardian is an excellent new home for Masco and the ideal partner for further growth over the next years.” Dr. Jan Gudlick, Chief Operating Officer of RSBG SE

PARTICIPANTS

  • ARDIAN

    • ARDIAN TEAM: MARCO BELLINO, CHRISTOPHER SAND, GIORGIO CICALA, JULIA WU, ANDREA AUDISIO, ELENA GARCIA, MATTEO COLLINI
    • EXCLUSIVE M&A ADVISOR: J.P. MORGAN
    • LEGAL ADVISORS: CLIFFORD CHANCE (M&A) | WEIL, GOTSHAL & MANGES AND PEDERSOLIGATTAI (FINANCING)
    • COMMERCIAL DUE DILIGENCE: MCKINSEY & COMPANY
    • FINANCIAL DUE DILIGENCE: PRICEWATERHOUSECOOPERS
    • TAX DUE DILIGENCE & ADVISOR: GITTI AND PARTNERS | PRICEWATERHOUSECOOPERS
    • ESG & ENVIRONMENTAL DUE DILIGENCE: PRICEWATERHOUSECOOPERS
    • INSURANCE DUE DILIGENCE: HOWDEN

  • RSBG SE | MASCO S.R.L.

    • RSBG SE TEAM: DR. ANDREAS JÄGER, DR. HANNA GOTTA, DR. JAN GUDLICK, DR. JANA PANNEMANN, PETER REMPP
    • M&A ADVISOR: JEFFERIES
    • LEGAL ADVISORS: CMS HASCHE SIGLE| CMS ADONNINO ASCOLI & CAVASOLA SCAMONI | CHIOMENTI
    • COMMERCIAL DUE DILIGENCE: MCKINSEY & COMPANY
    • FINANCIAL, TAX DUE DILIGENCE & ADVISOR: GRANT THORNTON

 

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $166bn of assets on behalf of more than 1,650 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.

ardian.com

 

ABOUT MASCO GROUP

Masco Group is a leading global provider of engineered solutions and services for the life sciences industry, with a focus on the fast-growing Biologics market. The company has a 100+ year track-record in high-purity water, with a wide product portfolio and unrivalled brand recognition through its brand Stilmas. Following the 4 build-ups performed since 2017, Masco has further strengthened its offering with complementary capabilities in bioprocessing equipment (offered through BCD Engineering and Olsa), modular off-site facilities solutions (KeyPlants) as well as value-add services (Vils, Bils, DOC, and MGA). Masco’s turn-key solutions are mission critical to large-cap Biopharma and CDMOs across 80+ countries, providing deep technological and process know-how. The company has 7 manufacturing facilities located across Europe, North America and Asia. Masco Group has revenue in excess of €300m and more than 800 employees.

mascogroup.com

 

ABOUT RSBG SE/RAG-STIFTUNG

RSBG SE is the future-oriented, reliable and strong investment partner for innovative and successful medium-sized companies. Since 2014 and backed by the RAG-Stiftung, we invest in high-growth future markets, sectors and industries that are being shaped by global technology trends. We provide entrepreneurs with long-term support for the strategic development of their business areas, products and services. This is how we achieve continuous value growth in a diversified investment portfolio that encompasses the areas of digitalization solutions, cloud computing, media and communications technology; high-tech manufacturing, industrial automation and robot technology; infrastructure and engineering services; as well as pharmaceuticals and life sciences. Today, we manage a portfolio of 85+ companies within 7 verticals and 12,500+ employees worldwide.
rsbg.com
The RAG-Stiftung is a private foundation that was established in 2007. At the beginning of 2019, the RAG-Stiftung took over the responsibility for financing the perpetual obligations of the German hard coal mining industry in the Ruhr and Saar regions and in Ibbenbüren. In addition, the RAG-Stiftung supports numerous projects in the areas of education, science and culture to promote progress in the former mining regions.

rag-stiftung.de

PRESS CONTACT

ARDIAN

HEADLAND

ardian@headlandconsutlancy.com

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Change of ownership at EPC service specialist OTTO LSE: Equistone funds sell majority stake to listed SPIE Group

Equistone

Funds advised by Equistone Partners Europe (“Equistone”) today announce the sale of their majority stake in OTTO Life Science Engineering GmbH (“OTTO LSE”) to the listed SPIE Group (“SPIE”). With the acquisition of OTTO LSE, SPIE, a European market leader in multi-technical services focused on energy infrastructure and communications, is further expanding its presence in the pharmaceutical and biotech sector. OTTO LSE’s management team, led by founders Alf Kain and Sascha Herz, will acquire a minority stake in the business. Completion of the transaction is subject to the customary approval by the relevant competition authorities and is expected to take place in the second half of 2024.

OTTO LSE is a specialised provider of EPC (Engineering, Procurement and Construction) services for pharmaceutical and biotechnology production facilities and laboratories. The company is an established player in the market, providing turnkey solutions which cover the entire value chain, from planning, designing, and delivering to re-qualifying. OTTO LSE’s 140 experienced employees serve a high-calibre international customer base, particularly in the areas of process design, pure media, cleanrooms and building technology. In addition to its headquarters in Nuremberg, OTTO LSE operates five other locations throughout Germany, and in 2023 generated annual sales of c.€75 million.

In 2017, the Equistone funds acquired a majority stake in OTTO Life Science Engineering, in a targeted expansion of their previous shareholding in OTTO Luft- und Klimatechnik into the business areas of pharmaceutical, biotechnology and cleanroom technology. Following the successful sale of OTTO Luft- und Klimatechnik to Engie GmbH in January 2019, the Equistone funds supported the management team in the further development of OTTO LSE, resulting in exceptionally high organic growth, profitability, and an overall money multiple of 9.7x.

With the sale to SPIE, OTTO LSE’s comprehensive EPC service competencies in pharmaceutical and biotech will be integrated into the listed group, significantly expanding its presence in these sectors. SPIE, with its subsidiary SPIE Germany & Central Europe and more than 50,000 employees in total, operates as an independent market leader for multi-technical services in the energy and communications sector.

“With the support of the Equistone funds and a total of 400 projects implemented since 2017, we have been able to build a strong foundation for our future growth in recent years. We want to build on this success with our new partner and use our comprehensive knowledge of the pharmaceutical and biotechnology sector to help drive SPIE’s growth,” said Alf Kain and Sascha Herz, founders of OTTO LSE.

Markus Holzke, Managing Director and CEO of SPIE Germany & Central Europe, said: “With OTTO LSE we continue the development of our expertise in Germany in very attractive markets and we are delighted to welcome the Management and its highly skilled collaborators. This combination will allow to further develop the business and reinforce our market position across Germany.”

Oskar Schilcher, Senior Partner in the Munich office and Chief Investment Officer at Equistone Partners Europe, commented: “OTTO LSE has developed excellently during the more than five years of our partnership, growing into a significant player in the EPC services market. This result testifies to the outstanding entrepreneurial performance of the entire management and the rest of the OTTO LSE team, who have built the company from the ground up.”

OTTO LSE marks the sixth full sale of a portfolio company by the Equistone funds in 2024, continuing the firm’s series of successful exits.

PR Contacts

GERMANY / SWITZERLAND / NETHERLANDS

Munich, Zurich, Amsterdam

  • IWK Communication Partner
  • Ira Wülfing / Florian Bergmann
  • Tel: +49 (0)89 2000 30 30
  • E-Mail IWK

CONTACT US

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Gamma Biosciences Announces Sale Of Mirus Bio To Merck For $600 Million

KKR

MENLO PARK, Calif. and MADISON, Wis., May 23, 2024 – Gamma Biosciences, a life sciences platform established by KKR to address the advanced therapy bioprocessing market, today announced that it has entered into an agreement with Merck (XTRA:MRK), a leading science and technology company, whereby Merck will acquire Gamma operating company Mirus Bio for $600 million in cash.

Mirus Bio is a leading provider of innovative transfection solutions used for the delivery of genetic material into cells. The company offers a comprehensive portfolio of RUO and GMP reagents and enhancers based on proprietary, multi-component technology. Its products deliver high-performance and cost-effective transfection for a variety of applications, from research through virus manufacturing at scale to address rapidly growing cell and gene therapy applications in AAV & LV.

Gamma acquired a controlling stake in Mirus Bio in 2021 and has worked closely with the company to support its growth and scale-up, including the launch of flagship products VirusGEN® GMP and RevIT™ AAV Enhancer for large-scale therapeutic adeno-associated virus and lentivirus production.

“Over the last several years, we have had the pleasure of supporting Dale and the team at Mirus as they have worked to make these best-in-class transfection products available to cell and gene therapy developers while maintaining the company’s long-standing commitment to the research community” said Matt Gunnison, CEO of Gamma Biosciences. “We are very proud of the progress that Mirus has made and are delighted that it will now become part of Merck, who we believe is the ideal partner to continue this strong trajectory.”

Dale Gordon, Chief Executive Officer of Mirus Bio, added “With the support of Gamma Biosciences and KKR, we have commercialized our scalable GMP delivery platforms for clinical use and significantly strengthened our position in the cell and gene therapy market. I look forward to this new era with Merck as we continue to expand our GMP portfolio with relevant, cutting-edge tools our customers need to develop affordable, life-saving advanced therapies.”

“Gamma’s investment in Mirus Bio reflects KKR’s commitment to driving innovation in the life sciences sector,” said Kugan Sathiyanandarajah, Partner at KKR and Head of Europe for KKR’s Health Care Strategic Growth strategy, and Anuv Ratan, Director at KKR. “The advancements achieved together with the Mirus team, from scaling commercial operations to launching new product lines, further underscore the strong value-creation potential of our strategic approach.”

The transaction is expected to be completed in the third quarter of 2024, subject to US regulatory approvals, as well as other customary closing conditions. Jefferies LLC acted as financial advisor to Gamma and Sidley Austin LLP acted as legal advisors to Gamma.

About Gamma Biosciences
Gamma Biosciences is a leading life sciences platform providing products and services to support the development and manufacturing of advanced biologic therapies. Our operating companies are committed to advancing the science and art of bioprocessing by delivering market-ready innovation and expertise that helps our customers.

About Mirus Bio
Mirus Bio is a leading provider of transfection products for the biopharmaceutical and research industries, offering best-in-class reagents for gene therapy, recombinant protein, and stem cell applications. A pioneer in nucleic acid delivery, the company has been enabling scientific research and innovation for more than two decades. In 2021, Mirus introduced VirusGEN® GMP Transfection Reagent and Enhancers to address the commercial biopharmaceutical and cell and gene therapy markets with support for virus manufacturing, gene editing, and biotherapeutic protein production.

About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

 

Media Contacts

Mirus Bio
Nat Connors
Mobil: +608 867-6465
E-Mail: nat.connors@mirusbio.com

KKR
FGS Global
Alastair Elwen
+44 20 7251 3801
KKR-Lon@FGSGlobal.com

KKR Germany
Thea Bichmann
M: +49 172 13 99 761
kkr_germany@fgsglobal.com

 

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HTL Biotechnology acquires beauty & biomedical division of Modern Meadow

Montagu
HTL BIOTECHNOLOGY STRENGTHENS ITS POSITION AS A GLOBAL LEADER IN THE PRODUCTION AND DEVELOPMENT OF PHARMACEUTICAL-GRADE BIOPOLYMERS

HTL Biotechnology strengthens its position as a global leader in the production and development of pharmaceutical-grade biopolymers by acquiring the beauty and biomedical division of American company Modern Meadow (Nutley, NJ). Notably, this acquisition includes Modern Meadow’s platform of recombinant proteins, with the most advanced product being human recombinant collagen type III (rhCOL3).

With this platform, within a world-class scientific research centre, the company also integrates a team recognised for its cutting-edge expertise in the field.

HTL Biotechnology makes a notable entry into recombinant human collagen for cosmetic and medical uses, addressing not only identified Vegan ethical commitments needs but also unique and differentiating properties.

The rhCOL3, developed in the United States and produced in Europe, has already raised the interest of numerous players in the cosmetic and aesthetic industry. In a nascent market with high demand set to surpass the billion-dollar mark soon, this recombinant human collagen holds significant promise.

HTL Biotechnology’s ambition, through this acquisition, is to drive innovation in the company’s historical segments, including aesthetic medicine, rheumatology, and ophthalmology, as well as explore new therapeutic areas. The synergy between HTL Biotechnology’s high-quality GMP biofermentation expertise and this new platform of recombinant proteins will enable the development of disruptive innovations, leveraging a combination of biopolymers and accelerating the company’s innovative capabilities.

HTL Biotechnology will now offer a broad and distinctive range of products through its platform, including pharmaceutical-grade hyaluronic acid, polynucleotides, and products in development such as heparosan or botulinum toxin as a neuromodulator. Additionally, with this acquisition, HTL Biotechnology gains a platform for human recombinant collagens.

The company is also strengthening its presence on the North American continent with, on one hand, the teams from HTL Biotechnology Manufacturing Inc. (HTL BMI) based in the state of Massachusetts, and on the other hand, the arrival of this new organisation based in Nutley (NJ).

François Fournier, CEO of HTL Biotechnology, states: “I am thrilled with the commercialisation of this new Vegan biopolymer, the diversification of our activity, and the prospects that this acquisition gives us to innovate even further, together. HTL Biotechnology thus becomes a pioneer in the market for human recombinant collagen, where the company was a pioneer 30 years ago in the bioproduction of hyaluronic acid. The depth of our biopolymer portfolio is unique, and it is with great pride that we will be able to serve our clients even better.  I am delighted to welcome, on behalf of HTL Biotechnology, the beauty and biomedical teams from Modern Meadow.”

I am thrilled with the commercialisation of this new Vegan biopolymer, the diversification of our activity, and the prospects that this acquisition gives us to innovate even further, together.

François Fournier, CEO, HTL Biotechnology

“This strategic acquisition marks an acceleration in the development of HTL Biotechnology, its international expansion, and the diversification of its portfolio. It reinforces its leadership position in biopolymers by offering a broad and innovative range” comments Paul Navarre, Chairman of HTL Biotechnology.

This strategic acquisition marks an acceleration in the development of HTL Biotechnology, its international expansion, and the diversification of its portfolio.

Paul Navarre, Chairman, HTL Biotechnology

Categories: News

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HTL Biotechnology acquires beauty & biomedical division of Modern Meadow

Montagu

HTL Biotechnology strengthens its position as a global leader in the production and development of pharmaceutical-grade biopolymers by acquiring the beauty and biomedical division of American company Modern Meadow (Nutley, NJ). Notably, this acquisition includes Modern Meadow’s platform of recombinant proteins, with the most advanced product being human recombinant collagen type III (rhCOL3).

With this platform, within a world-class scientific research centre, the company also integrates a team recognised for its cutting-edge expertise in the field.

HTL Biotechnology makes a notable entry into recombinant human collagen for cosmetic and medical uses, addressing not only identified Vegan ethical commitments needs but also unique and differentiating properties.

The rhCOL3, developed in the United States and produced in Europe, has already raised the interest of numerous players in the cosmetic and aesthetic industry. In a nascent market with high demand set to surpass the billion-dollar mark soon, this recombinant human collagen holds significant promise.

HTL Biotechnology’s ambition, through this acquisition, is to drive innovation in the company’s historical segments, including aesthetic medicine, rheumatology, and ophthalmology, as well as explore new therapeutic areas. The synergy between HTL Biotechnology’s high-quality GMP biofermentation expertise and this new platform of recombinant proteins will enable the development of disruptive innovations, leveraging a combination of biopolymers and accelerating the company’s innovative capabilities.

HTL Biotechnology will now offer a broad and distinctive range of products through its platform, including pharmaceutical-grade hyaluronic acid, polynucleotides, and products in development such as heparosan or botulinum toxin as a neuromodulator. Additionally, with this acquisition, HTL Biotechnology gains a platform for human recombinant collagens.

The company is also strengthening its presence on the North American continent with, on one hand, the teams from HTL Biotechnology Manufacturing Inc. (HTL BMI) based in the state of Massachusetts, and on the other hand, the arrival of this new organisation based in Nutley (NJ).

François Fournier, CEO of HTL Biotechnology, states: “I am thrilled with the commercialisation of this new Vegan biopolymer, the diversification of our activity, and the prospects that this acquisition gives us to innovate even further, together. HTL Biotechnology thus becomes a pioneer in the market for human recombinant collagen, where the company was a pioneer 30 years ago in the bioproduction of hyaluronic acid. The depth of our biopolymer portfolio is unique, and it is with great pride that we will be able to serve our clients even better.  I am delighted to welcome, on behalf of HTL Biotechnology, the beauty and biomedical teams from Modern Meadow.”

I am thrilled with the commercialisation of this new Vegan biopolymer, the diversification of our activity, and the prospects that this acquisition gives us to innovate even further, together.

François Fournier, CEO, HTL Biotechnology

“This strategic acquisition marks an acceleration in the development of HTL Biotechnology, its international expansion, and the diversification of its portfolio. It reinforces its leadership position in biopolymers by offering a broad and innovative range” comments Paul Navarre, Chairman of HTL Biotechnology.

This strategic acquisition marks an acceleration in the development of HTL Biotechnology, its international expansion, and the diversification of its portfolio.

Paul Navarre, Chairman, HTL Biotechnology

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