Novozymes sell Biopharma Sweden operations Repligen Corp

Novozymes to sell Biopharma Sweden operations to Repligen Corp

11:50 PM, 6th November 2011
Novozymes to sell Biopharma Sweden operations to Repligen Corp
Dr Thomas Videbaek, Executive Vice President, BioBusiness, Novozymes.

 

BAGSVAERD, DENMARK: As agreed on October 27, Repligen Corp acquires Novozymes’ Biopharma Sweden activities. The transaction is expected to be finalized during the fourth quarter of 2011. The deal is a cash transaction of roughly DKK 125 million (€17 million) with contingent milestone payments of roughly DKK 30 million (€4 million), payable in 2012-2015.

Earlier this year Novozymes announced that the company has been looking for a potential spin off or divestment of its antimicrobial peptide (AMP) projects such as Plectasin and Arenicin.

The divestment allows for an even sharper focus on the increasing potential within many of BioBusiness’ key focus areas, including hyaluronic acid and rAlbumin products and technologies for pharmaceutical and medical device applications.

“The decision to discontinue the AMP projects has called for a review of the purpose of Novozymes Biopharma Sweden operations, which from the outset was mainly intended as a launch plant for drug discovery projects, including AMPs, but also for the production and development of Novozymes’ cell culture ingredient and Protein A products,” said Dr Thomas Videbaek, Executive Vice President, BioBusiness, Novozymes.

“Repligen is a strong buyer with strategic focus to strengthen their activities within the cell culture ingredient and affinity ligands business,” he added.

Thomas Videbaek stated that Novozymes ambition for BioBusiness of sales of DKK 6 billion in 2018 is still valid following the divestment. “Our other areas within Biopharma for the medical device and drug delivery & formulation markets are developing positively. These are areas within Novozymes that will remain in high focus,” he said.

(C) WOC News

 

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