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.
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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.
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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.
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