Connect with us

Biotech

Sartorius acquires a majority stake in cell culture media specialist Biological Industries

The Sartorius Group, a leading international partner of life science research and the biopharmaceutical industry, signed an agreement to acquire a majority stake in the Israeli Biological Industries, which focuses on cell culture media and other therapies. Sartorius has acquired just over 50% of the shares of the company from its owners for approximately $49,79 million (€45 million) in cash.

Published

on

This picture show a couple of dollar bills.

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.

SEE ALSO  7 myths about successful entrepreneurs debunked

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.

__

(Featured image by Vladimir Solomyani via Unsplash)

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.

J. Frank Sigerson is a business and financial journalist primarily covering crypto, cannabis, crowdfunding, technology, and marketing. He also writes about the movers and shakers in the stock market, especially in biotech, healthcare, mining, and blockchain. In the past, he has shared his thoughts on IT and design, social media, pop culture, food and wine, TV, film, and music. His works have been published in Investing.com, Equities.com, Seeking Alpha, Mogul, Small Cap Network, CNN, Technology.org, among others.