Denka buy German biopharma firm, enhances vaccines business

Denka to buy German biopharma firm, enhances vaccines business

1:42 PM, 7th August 2015
Denka to buy German biopharma firm, enhances vaccines business

TOKYO, JAPAN: Denki Kagaku Kogyo (Denka Group) said it will acquire Icon Genetics GmbH, a German bio-pharmaceutical R&D company, from Nomad Bioscience GmbH for €75 million ($81.9 million), in two phases.

Denka will acquire 51 percent of Icon’s shares from Nomad (first phase) as a result of which Icon will become a subsidiary of Denka and after two years, it will acquire the remaining 49 percent shares making it a wholly owned subsidiary, Denka said.

The first phase of acquisition is scheduled on 20 Aug.

Denka will grow its vaccines and diagnostic reagents business by Denka Seiken Co Ltd, the major group company of Denka. It will develop norovirus, influenza and other vaccines, improve its manufacturing technologies of antibodies and accelerate research and development of next-generation products, it said.

Icon’s magnICON technology produces high molecular proteins such as antibodies and vaccine antigens by using plant-based genetic modification technology and is known for its yield and lower production costs as compared to other similar plant-based technologies.

Halle, Germany-headquartered Icon has 14 employees as of July. Its R&D facility will continue to be located in Halle, while the commercialization rights in the businesses other than Icon, vaccines and diagnostic reagents will be transferred to Nomad, Denka said.

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