Sartorius, a leading international partner of biopharmaceutical research and industry, has signed an agreement to acquire a majority interest in the Israeli cell culture media developer and manufacturer Biological Industries.
For approximately $49,79 (€45 million) million in cash, Sartorius acquired just over 50% of the company’s shares from its current owners, Kibbutz Beit Haemek and Fortissimo. In addition, an option to acquire a further 20% of the shares within three years was agreed upon. The transaction is subject to customary closing conditions and is expected to close in mid-December.
“By acquiring a majority stake in Biological Industries, we are significantly expanding our range of cell culture media and complementing our product portfolio for customers in the dynamically growing market for advanced therapies,” said Joachim Kreuzburg, Chairman of the Executive Board of the Sartorius Group.
Stay up to date on the latest biotech advances with Born2Invest. Our companion app includes news updates of economic headlines from finance and investing to cannabis, Africa, fintech, and more.
Biological Industries focuses on cell culture media, in particular for cell and gene therapy, regenerative medicine and other advanced therapies. Founded in 1981, the company currently employs approximately 130 people, mainly at its headquarters, research and development and production site near Haifa, Israel, and sales offices in the U.S., Europe, and China. Biological Industries is recording significant sales growth and expects sales of around $27,65 million (€25 million) for the current year with a double-digit operating EBITDA margin.
Cell culture media are used in research, clinical development, and manufacturing of biopharmaceuticals as well as in cell and tissue therapy applications. Biological Industries offers complete media solutions with a comprehensive portfolio of clinical-grade media for cell and stem cell cultivation and cryopreservation. These two applications are particularly relevant in both advanced therapy research and clinical development. In addition, Biological Industries offers cell culture reagents as well as classical and serum-free media.
Sartorius at a glance
The Sartorius Group is a leading international partner for biopharmaceutical research and industry. With its innovative laboratory instruments and consumables, the Lab Products & Services division focuses on research and quality assurance laboratories in pharmaceutical and biopharmaceutical companies and academic research institutions.
The Bioprocess Solutions division contributes to the safe and efficient production of biotech drugs and vaccines with a broad product portfolio focusing on disposable solutions. The Group is growing at an average double-digit rate each year and regularly complements its portfolio with acquisitions of complementary technologies.
In fiscal 2018, the company generated sales of around $1,736 billion (€1.57 billion). Currently, more than 8,800 employees work for customers around the globe at the Group’s approximately 60 production and sales locations.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in finanzen.net, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Extended reality is the future, and Zadar Ventures Ltd. is at the forefront
Emerging technologies are in the spotlight at the height of COVID-19. From drones to telemedicine to extended reality, the pandemic...
Small biotech companies have also entered the race to find a vaccine against COVID-19
An impressive number of biotech companies have entered the race to find a vaccine that would put an end to...
Cannabis stocks take a beating in a tough context
The difficult economic context generated by the coronavirus crisis has taken its toll on cannabis shares. Just like other sectors,...
B2B spending with virtual cards expected to skyrocket
The latest research conducted by Juniper, shows that there will be an impressive increase in the use of virtual payment...
The debt is ticking in the background like a bomb ready to explode
If someone in 2019 had said 2020 will be like this, they’d have thought you were delusional, super pessimistic, or...
Crowdfunding7 days ago
The real estate lending crowdfunding portal Trusters launches a round of €1 million
Featured7 days ago
Credimi and Banca Generali partner to help SMEs in Italy
Crypto7 days ago
How governments are analyzing Crypto and Blockchains
Business5 days ago
How to invest in a bear market: Why small-cap gold producers like Inca One belong in your precious metals investment portfolio